Climate-Resilient Inclusive Development Program (Subprogram 1)

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Climate and geophysical hazard risks, along with greenhouse gas (GHG) emissions, threatens Bangladesh's development. Climate actions are essential for Bangladesh to end absolute poverty, gain upper middle-income status by 2031, and achieve the government's Vision 2041. The government's climate priorities are articulated in the Nationally Determined Contributions 2021-Updated (NDC-U) update, 2021; National Adaptation Plan (NAP), 20232050; Delta Plan, 2100; and Mujib Climate Prosperity Plan, 20222041. The proposed policy-based loan (PBL) will help the government implement its climate priorities, particularly those in NAP and the NDC-U. It is aligned with the Paris Agreement's climate goals and the Asian Development Bank (ADB) country partnership strategy for Bangladesh, 20212025 to promote green growth and climate resilience. The PBL is structured in coordination with development partners, with expected cofinancing from Agence Franaise de Dveloppement, the Asian Infrastructure Investment Bank, and Korea Export Import Bank. The PBL supports ADB Strategy 2030's operational priorities: (i) addressing remaining poverty and reducing inequalities; (ii) accelerating progress in gender equality; (iii) tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability; (iv) making cities more livable; (v) promoting rural development and food security; and (vi) strengthening governance and institutional capacity.