DHAKA - Low-lying Bangladesh-home to 160 million people and the world's largest river delta system-is particularly vulnerable to climate change as rainfall patterns are disrupted and sea levels rise.
"Talks have reached the final stage as Bangladesh is seeking funds from international donors. The World Bank is just one," Shamsul Alam, senior secretary of Bangladesh Planning Commission, said in an interview.The World Bank funds will go toward Delta Plan 2100, which aims to minimise the damage the country's rivers and estuaries can cause during flooding events.
The first phase of the plan involves 80 projects such as land reclamation, construction of embankments, and creation of safe navigation channels, and will require about $38 billion in investments by 2030. The country currently invests 0.8 per cent of its gross domestic product in water-related projects, which will have to rise to about 2.5 per cent by 2030 to meet the plan's demands, Alam said.The country borrowed $2.7 billion this year to tackle the pandemic.