The World Bank has given the green light for a $102 million loan to aid Bangladesh in bolstering riverbank protection and enhancing navigability along the Jamuna river.
This funding aims to safeguard communities, preserve their livelihoods, and stimulate economic activities through the ‘Jamuna River Sustainable Management Project 1.’
The project, the first in a series of proposed initiatives, seeks to improve navigation channels capable of accommodating large cargo vessels throughout the year.
It aims to revitalize inland water transport, bolster regional connectivity and trade, and shield approximately 2,500 hectares of land from riverbank erosion and flooding.
These efforts will safeguard local livelihoods and assets while creating new economic prospects.
‘Jamuna is one of the world’s largest and most dynamic rivers, serving as a lifeline for millions. However, river erosion, exacerbated by climate change and rising water levels, displaces thousands annually, plunging them into poverty,’ stated Abdoulaye Seck, World Bank country director for Bangladesh and Bhutan.
Sustainable and climate-resilient management of the Jamuna River promises substantial economic advantages for both the nation and its populace, Seck emphasized.
This groundbreaking project in Bangladesh will introduce nature-based solutions and innovative river structures and navigation in two Jamuna channels, spanning Phulchhari, Gaibandha, and Kalihati.
These enhancements will benefit approximately 100,000 individuals by providing safer and more cost-effective transportation options for those transitioning from buses to passenger ferries.