Dhaka, April 20 (UNB) - The Asian Development Bank (ADB) and the government of Bangladesh on Saturday signed a $71 million loan agreement to improve flood control, irrigation, and water resources management in rural communities in Gopalganj and Madaripur districts to strengthen their preparedness and resilience to the effects of climate change.

Md. Shahriar Kader Siddiky, Secretary, Economic Relations Division (ERD), and Edimon Ginting, Country Director, ADB, signed the loan agreement on behalf of Bangladesh and ADB, respectively, at a ceremony at ERD in Dhaka.

“This project reflects ADB’s renewed commitment to help Bangladesh tackle climate change challenges through improved flood control, irrigation, and water resources management,” said Edimon Ginting, ADB Country Director for Bangladesh.

“Building on our previous successful projects in this area, the new project will further boost economic growth and productivity, increase incomes and sustainable livelihoods, especially for women and vulnerable groups, and reduce poverty in rural areas of southwest Bangladesh,” Ginting added.

The Climate-Resilient Integrated Southwest Project for Water Resources Management Project is expected to benefit more than 600,000 people and will introduce climate-resilient flood control, drainage, and irrigation (FCDI) measures and reduce saline intrusion.

It will adopt nature-based solutions to strengthen FCDI infrastructure and improve drainage in four subbasins, ADB said.

The project will develop and enhance integrated water management plans, construct training centers for water management organizations, and other community infrastructure.

The project will promote  participatory water resource management to foster local ownership and ensure sustainability.

It will strengthen the capacity of water management groups in the design, construction, and operation and maintenance of the facilities and support the establishment of joint management committees.

Support will be extended to form water management organizations in four subproject areas targeting women’s membership.

The project will also build the capacity of the Bangladesh Water Development Board to improve coordination of government agencies concerned with water resources management, supervise the activities of water management organizations, and integrate climate adaptation in its operations.

Based on the Global Climate Risk Index, Bangladesh is ranked seventh in terms of vulnerability to climate risk. Bangladesh faces increasing frequency and intensity of extreme weather and slow-onset climate events.

Without effective adaptation measures, the country could lose about 30% of agricultural gross domestic product by 2050 because of climate variability and extreme events impacting rural communities, especially women, who depend on climate-sensitive agricultural practices and natural resources for their livelihoods.