The Asian Development Bank (ADB) said it has approved an $80 million loan to help protect nine Bangladesh urban areas from devastating floods. The project covers urban zones that are prone to river flooding, river erosion, waterlogging and flash floods, the Manila-based organisation said in a statement obtained on Saturday.
"The urban sector presents a great opportunity for both pro-poor economic growth and targeted poverty reduction, yet its growth potential is severely undermined by frequent flooding," said Hun Kim, an ADB principal urban economist.
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