Deal for US$100.5m WB assistance for DSCC Wednesday
The World Bank will provide US$100.5 million to improve public spaces and urban services in four large neighborhoods under the Dhaka South City Corporation (DSCC) benefitting about a million residents.
“Economic Relations Division (ERD) Additional Secretary M Zahidul Haque and World Bank Acting Country Director Zahid Hussain will sign the agreement tomorrow at 11am on behalf of their respective sides at the NEC Conference Room-2 in the city’s Sher-e-Bangla Nagar Area,” said an ERD official.
The credit from the World Bank’s International Development Association (IDA), which provides concessional financing, has a 30-year term, including a five-year grace period and an interest rate of 1.25 percent with a service charge of 0.75 percent.
The official told BSS that the Dhaka City Neighborhood Upgrading Project will enhance livability of the selected neighborhoods by improving selected public open spaces such as parks, playgrounds, waterfronts, streets, sidewalks and public buildings, such as community centers with integrated public facilities.
The project will cater to the needs of women, youths, elderly and disabled, who often refrain from using public amenities.
Through a wide range of consultations with stakeholders, four localities have been selected, which are: Kamrangir Char, Lalbagh, Sutrapur-Nayabazar-Gulistan and Khilgaon-Mugda-Bashabo. The project will also pilot interventions for better traffic management and safe mobility.
This will include developing plans for traffic management as well as improving intersection geometry and walkability for pedestrians. Jon Kher Kaw, World Bank team leader for the Dhaka City Neighborhood Upgrading Project, earlier said well-designed public areas such as streets, sidewalks, parks, lighting and multipurpose community centers can make a big difference to people’s lives.
“They can immensely improve the living standards by improving safety, health, mobility, recreation and economic vibrancy. The project will appraise, design and implement schemes to enhance public spaces and address challenges of unplanned urbanization in the four neighborhoods.” added the World Bank official.
The project will help increase green open spaces by enhancing selected parks, streets and waterfront areas, in both low-income neighborhoods and downtown areas.
Multipurpose community centers will include a mix of new uses to serve neighborhoods and incorporate environment-friendly features and energy efficient design principles and materials.