World Bank approves $109 million loan for cyclone affected areas in Bangladesh

Washington, DC (BBN) – The World Bank has approved a US$109 million IDA credit to Bangladesh, which will support the government’s efforts to repair infrastructure and restore the livelihoods for thousands of families affected by last year’s Cyclone Sidr.

The credit from the International Development Association (IDA), the World Bank’s concessionary arm, has 40 years to maturity with a 10-year grace period; it carries a service charge of 0.75 percent, according to a press statement.

The cyclone caused extensive damage to, property, livestock, and crops, with total damage and losses estimated at US$1.7 billion. Overall 30 districts and about 9 million people were affected, leaving some 3,000 dead and more than 55,000 people injured.

BBN/SI/SSR/AD-09November08-1:25 PM (BST)

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