Contacts: In Dhaka: Mehrin A. Mahbub (880-2) 8159001-28 Ext. 4251 mmahbub@worldbank.org In Washington: Benjamin Crow (202) 473 5105 bcrow@worldbank.org WASHINGTON, July 1, 2008— Poor families affected by last year’s cyclone Cidr, vulnerable children in urban slums, and people with disabilities stand to benefit from two new projects to Bangladesh, approved today by the World Bank. The US$50 million in additional financing for the Social Investment Program Project (SIPP) is designed to improve local infrastructure, assets, and livelihoods for families affected by cyclone Cidr. The cyclone caused extensive damage to lives, property, livestock, and crops, with total damage and losses estimated at US$1.7 billion. SIPP, which has already benefited over 1,000 villages across Bangladesh, was identified as the best instruments for quickly channeling funds to support livelihoods restoration at the community level. “When I recently visited these communities I learnt that they want development, not relief,” said Meena Munshi, World Bank Senior Economist and team leader for the project. “They want to do it on their own, but need resources and technical assistance to get back on their feet. This project will provide them with financial resources to gradually restore their lives and livelihoods. It will also help establishing community institutions that in the longer-term can identify, plan, and carry out their own development priorities.” While Bangladesh has established several programs targeting poor people through safety nets, microfinance, and other services, few programs are available for people with disabilities and vulnerable children in rapidly growing urban slums (street children, orphans, etc.) The US$35 million Disability and Children-At-Risk Project will support the government in expanding the coverage, use, and quality of social care services for these vulnerable groups. “Lack of access to an adequate education, health services, and safety nets not only results in disabled people being excluded from social and economic participation,” said Qaiser Khan, World Bank Lead Human Development Specialist and team leader for the project. “It also leads to their family members having to forgo paid employment to stay at home to provide care. Global evidence suggests that these factors translate into forgone GDP of about 5-7 percent.” The project will also help build the capacity of NGOs, Disabled People’s Organizations, and government agencies that provides support to disabled people and their families, and advocates for greater disability awareness, inclusion, and empowerment. The credits from the International Development Association (IDA), the World Bank’s concessionary arm, have 40 years to maturity with a 10-year grace period; it carries a service charge of 0.75 percent. For more information on the World Bank in Bangladesh, please visit: http://www.worldbank.org/bd # # # |
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