RSS   Newsletter   Contact   Advertise with us

Bangladesh signs $375 million deal with WB for shelter project

Staff writer ▼ | January 27, 2015
Bangladesh has signed a $375 million financing agreement with the World Bank for a multipurpose disaster shelter project.
The World Bank   The credit with a 38 year term
Economic Relations Division (ERD) Senior Secretary Mohammad Mejbahuddin and World Bank Country Director Johannes Zutt signed the agreement. The credit has a 38 year term, including a six year grace period, and a service charge of 0.75 percent.

The project will construct 552 new multipurpose disaster shelters, improve 450 existing shelters, and build connecting roads and communication networks in nine coastal districts.

The multipurpose shelters are designed in such a manner that they would serve as primary schools during the year, and provide safe haven to local community during natural disasters.

Those will be able to protect people from high wind speeds and storm surges and will be equipped with water supply systems and separate sanitation facilities for men and women. They will also have space for animals and livestock.