The ADB’s contribution signifies the bank’s deep commitment to the nation’s sustainable development goals, local media reported.

The bank’s decision was announced during a meeting in Dhaka between ADB Vice President Fatima Yasmin and Bangladesh’s Minister of Environment, Forest and Climate Change Sabre Hossain Chowdhury.

At the meeting, Chowdhury expressed his country’s urgency for resources to fight climate change and explained that his government has already allocated nearly US$4 billion to infrastructure development, disaster management, and education.

The functionary noted that Dhaka is also advocating increased cooperation from international partners for the development of national projects. However, he acknowledged the reluctance of the private sector to invest in adaptation efforts.

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