Second Bangladesh Green and Climate Resilient Development Credit (WB-P180439)

Countries
  • Bangladesh
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 19, 2024
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Bangladesh - Finance Division, Ministry of Finance
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 500.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 500.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Media Documents
Other Related Projects
Primary Source

Original disclosure @ WB website

Updated in EWS Mar 10, 2025

Disclosed by Bank Mar 8, 2024

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the objective of this project is to support the Government of Bangladesh to transition to green and climate resilient development by (a) enhancing public planning, financing, and delivery of green and climate resilient interventions; and (b) promoting key sector reforms for clean and resource efficient production and services.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The overall residual risk rating is high, driven by significant political and governance, macroeconomic, stakeholder, technical design, and institutional capacity risks. Macroeconomic risks to the achievement the PDO are heightened by ongoing safety and security concerns, uncertainty surrounding the next election, and vulnerabilities in the financial sector.

Stakeholder risks arise from potential resistance from interest groups to some reforms, particularly on fuel pricing, water tariffs, stricter environmental regulations, the environmental protection surcharge and the vehicle scrappage policy – some of them planned for the third DPC operation. Technical design and institutional capacity risks are substantial due to the complexity of policy actions and capacity gaps within implementing agencies. Risk mitigation includes strong government ownership of reforms, efforts to enhance stakeholder engagement, regulatory and enforcement capacity through investments and training, and additional interventions for compliance.

While political and governance risks are also high. Despite improvements in law and order and the efforts of the interim government to continue implementing the government’s functions until new elections, safety and security concerns persist, and there is still uncertainty on when and how the elections will take place. This could affect the implementation of prior actions and adoption of indicative triggers.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

World Bank Lending: US$ 500.00 million


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

World Bank

Ana Luisa Gomes Lima
Senior Environmental Specialist

Souleymane Coulibaly
Lead Country Economist, Program Leader

Borrower/Client/Recipient

People's Republic of Bangladesh
Dr. Md Khairuzzaman Mozumder
Secretary of Finance
secretary@finance.gov.bd

Implementing Agencies

Finance Division, Ministry of Finance
Dr. Ziaul Abedin
Additional Secretary, Macroeconomic
ziaulabedin@outlook.com

ACCESS TO INFORMATION

To submit an information request for project information, you will have to create an account to access the Access to Information request form. You can learn more about this process at: https://www.worldbank.org/en/access-to-information/request-submission

ACCOUNTABILITY MECHANISM OF THE WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. Information on how to file a complaint and a complaint request form are available at: https://www.inspectionpanel.org/how-to-file-complaint

How it works

How it works