The World Bank has approved $410 million for Bangladesh to improve municipal governance and basic urban services in district towns and municipalities, the multilateral lender said in a statement yesterday.
The Municipal Governance and Service Project will spend the loans to build roads, water and sanitation systems, markets, bus terminals and municipal services centres.
More than three million people in around 100 urban communities will benefit from the project, according to the statement.
It will provide financial support to 26 urban government bodies with high economic growth and job creation potential, located along growth corridors leading from Dhaka towards Chittagong, Rangpur, Sylhet and Mymensingh. It will also cover three district towns in the south, the WB said.
“Bangladesh experienced some of the most rapid urbanisation in South Asia. Yet, the cities offer inadequate infrastructure and low levels of urban services, particularly in district towns and municipalities,” said Johannes Zutt, WB country director for Bangladesh.