World Bank to loan $2 billion to Bangladesh to fight climate change

Reuters News
Posted: Oct 18, 2016 9:10 AM

DHAKA (Reuters) - The World Bank is to provide $2 billion in loans for Bangladesh to help the impoverished South Asian country become less vulnerable to climate change, the bank president said on Tuesday.

Jim Yong Kim made the pledge after touring schools that double as cyclone shelters during major storms.

He also visited rural communities that are powered by electricity thanks to solar energy.

"Bangladesh is among the countries most at risk from the impacts of climate change. We must confront climate change now as it hits the poor the hardest,” said Kim.

The $2 billion pledge follows $1 billion pledged by Kim on Monday to end childhood stunted growth.

Much of Bangladesh is a low-lying delta plain, meaning many parts of the country regularly suffer flooding, which many experts believe has been exacerbated by climate change.

Monsoon floods often inundate homes and fields, causing crop losses and damaging food stocks.

(Reporting by Serajul Quadir; Editing by Nick Macfie)