$140mn WB fund for disaster prevention

The World Bank will lend Bangladesh $140 million to improve and strengthen critical disaster prevention infrastructure in the country’s coastal areas.
The assistance from the bank’s soft-lending International Development Association (IDA) will come under an agreement the global lending agency signed with Bangladesh on Monday.
Additional damage from Cyclone Aila in 2009 necessitated further financing for the existing project to help those affected by an earlier cyclone, Sidr, said a press release.
Economic Relations Division (ERD) Additional Secretary Arastoo Khan and World Bank country director Johannes Zutt, signed the agreement at the ERD in city's Sher-e-Bangla Nagar.
The IDA credit has 40 years of maturity, including a 10-year grace period; and carries a service charge of 0.75 percent, according to UNB.