26 June 2013: The World Bank is providing $400 million to increase the resilience of coastal population to tidal flooding and natural disasters in Bangladesh. This funding will benefit 8.5 million people and is expected to improve agriculture development, employment and food security in the country.

With growing challenges involving extreme weather events due to climate change, the Government of Bangladesh has been re-focusing its adaptation strategies in coastal areas to cope with more frequent storm surges.

Funded through an International Development Association (IDA) credit and a grant from the Pilot Program for Climate Resilience (PPCR), the project will stimulate economic development by investing in the growth of farm and non-farm activities while providing direct protection to 760,000 people living within polder boundaries, ‘an area of low-lying land that has been reclaimed from a body of water and is protected by dikes.’

At present, 15% of Bangladesh’s total arable land benefits from the protection of embankment systems, which is a key contribution of the World Bank’s project. The PPCR is a targeted program of the Strategic Climate Fund (SCF), which is one of two funds within the framework of the Climate Investment Funds (CIF). [World Bank Press Release] [World Bank Video] [PPCR Website]