The Bangladesh Government inked a $280 million deal with the World Bank’s International Development Association (IDA) for the development of Chittagong’s water supply. The project, the Chittagong Water Supply Improvement Project (CWSIP), will be completed by December 31, 2030. It will be executed by Chittagong Wasa under the Ministry of Local Government.
The project aim is to provide clean, safe, and reliable water to the people of Chittagong. It will improve sanitation services along with making Chittagong Wasa financially more robust.
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The loan consists of two parts:
1. $140 million from a special loan with no interest or fee for 12 years.
2. An additional $140 million with 35-year repayment term. This segment includes minor fees and interest rates charged at the Tokyo Overnight Average Rate (TONA).
So far, the World Bank has issued over $43.5 billion to Bangladesh for development. Presently, $13.1 billion is being invested in 47 ongoing projects across the country.
