MANILA, June 19 (Xinhua) -- The Asian Development Bank (ADB) said it approved a 400-million-U.S.-dollar loan on Thursday to help Bangladesh enhance its resilience against climate impacts and cut emissions in climate-critical sectors.
"The program will help Bangladesh achieve its climate goals more efficiently by bringing government agencies together and aligning their work with national policies," said ADB Senior Public Sector Economist Sameer Khatiwada.
"It will also remove obstacles to mobilizing climate finance, reinforce adaptation efforts in priority sectors, and speed up actions to reduce climate impacts," Khatiwada said.
The program will support a national disaster risk financing strategy, including instruments like crop insurance, disaster risk insurance, and contingent disaster financing, the ADB said.
According to the Manila-based bank, Bangladesh is one of the world's most climate-vulnerable nations. Recent studies showed that if high greenhouse gas emissions continue, the country could lose up to one-third of its gross domestic product by 2070. Enditem
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