WASHINGTON, November 6, 2008- The following project was approved today by the World Bank’s Board of Executive Directors: IDA Credit: US$109 Million Equivalent TERMS: Maturity = 40 years; Grace = 10 years Project Description: The Emergency 2007 Cyclone Recovery and Restoration Project for Bangladesh aims to finance reconstruction and improvement of some 300 multi-purpose shelters and rehabilitation of 100 km of coastal embankments, using cyclone-resistant building techniques. It will also support activities in the agriculture sector that will help farmers prepare for the next growing season and strengthen their ability to cope with future disasters. The project will also strengthen the Government’s medium- and long-term disaster risk mitigation and reduction capacity, including support to the Disaster Management Bureau. It will also finance preparation of future projects for river bank improvement, coastal embankment strengthening programs, disaster shelters, and up-gradation of rural road network. Media Contact Erik Nora (202) 458-4735 enora@worldbank.org For project documents, please visit: http://web.worldbank.org/external/projects/main?pagePK=64283627&piPK=73230&theSitePK=40941&menuPK=228424&Projectid=P111272 |
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