IGI Logo

The Asian Development Bank (ADB) and the Bangladesh government on Sunday signed a loan agreement for 106 million US dollars to improve water resources management and agricultural productivity in the South Asian country.

An agreement for a grant of 17.80 million US dollars from the government of the Netherlands was also signed, Xinhua news agency reported.

ADB said it will administer the grant, which will finance innovative pilot works and consulting services focusing on innovation.

"The Climate and Disaster Resilient Small-Scale Water Resources Management Project will provide accelerated support to address climate impacts and food security by raising and strengthening flood embankments, deepening channels to increase water retention, providing efficient electric pump-pipe irrigation, providing training, developing capacity, and supporting climate-smart agriculture, agribusinesses, and fishery development," said ADB's country director for Bangladesh Edimon Ginting.

"The project will help increase crop production with enhanced agricultural marketing, and fisheries and aquaculture production expansion to support the livelihoods of 380,000 households, especially women and vulnerable persons," Ginting added.

The project builds on the success and lessons from three prior ADB-financed participatory small-scale water resources management projects in Bangladesh, said ADB.

According to the Manila-based lender, it will scale up investment while intensifying support for climate and disaster resilience and food security through new and improved water resources infrastructures and services for flood and drought risk management, drainage improvement, and irrigation systems modernisation.