DHAKA: The World Bank (WB) is ready to provide a loan of USD 500 million to Bangladesh for riverbank improvement projects to prevent erosion and reduce the incidence and severity of flooding along selected sections of the Brahmaputra and Jamuna.

The government earlier sought such assistance under the ongoing country assistance strategy (CAS) of the WB. In 2001, the WB provided USD 192 million for this purpose, says customstoday.

Quoting ERD sources, it said the project would improve access to socio-economic services for affected communities in the project area and build the Bangladesh Water Development Board’s (BWDB)’s capacity to undertake effective operations and maintenance.

The ERD sources added that the project is in-the-pipeline list of the WB for 2015 and is likely to be approved by the board of the Bank in the Q1 of 2016 financial year (July–September 2015).

The project’s main objective is to prevent erosion of riparian lands at two locations on the west bank of the Brahmaputra by building and maintaining improved riverbank protection works, which will protect Sirajganj town’s built-up and semi-urban areas from major damage and cumulative destruction.

It will also prevent the merger of the Brahmaputra and Bangali rivers in the vicinity of Sariakandi and consequential regional flooding.

Another objective is to help the Bangladesh government develop permanent institutions for improved water sector planning, preserve the institutional capacity developed under the Flood Action Plan (FAP), and make multi-disciplinary planning a part of Bangladesh’s normal water sector planning processes.

BDST: 1821 HRS, DEC 26, 2014