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The government has sought nearly US$250 million in assistance from the World Bank (WB) to rehabilitate the flood-affected regions in the north- and south-east of the country, officials said on Tuesday.
Following a request from the Local Government & Rural Development Ministry and from the Water Resources Ministry, the Economic Relations Division (ERD) has recently approached the global lender for financial support.
The floods in August have ravaged crops, houses, roads, bridges, educational institutions, small and medium enterprises, fisheries and livestock farms. Besides, the banks of the rivers, ponds and water bodies have been damaged, incurring a huge loss in the fish farming and irrigation system.
A senior ERD official said: "We need a good amount of investment for the rehabilitation. So, we have requested the WB to finance Bangladesh's reconstruction work.
"Firstly, the massive damage to roads, village markets, and educational institutions will have to be repaired. And our river banks will have to be reconstructed.
"Many low-income people have been jobless and many are struggling with their livelihoods after the flood. Part of the proposed fund will be used in micro-credit programmes for affected people."
Out of the $250 million required funds, the LGD will utilise $185 million for reconstructing roads, bridges and rural infrastructures, the Water Resources Ministry will invest $55 million for water resources management and the Social Development Fund, a public financial institution, will utilise $10 million for micro-credit programmes.
According to the National Disaster Response Coordination Centre (NDRCC), some 5.8 million people in northeastern and southeastern regions have been affected with more than 1.0 million people cut off by the flooding. Reports indicate that 502,501 people have been displaced.
The most affected districts are Noakhali, Cumilla, Laxmipur, Feni, Chittagong, and Moulvibazar. Rural roads, agricultural fields, and fishponds have been submerged, disrupting essential access and severely impacting livelihoods.
An estimated 296,852 hectares of crops have been affected by the flood, with initial government assessments showing losses of $122 million in fisheries and $34 million in livestock sectors. Additionally, over 7,000 schools are closed, affecting 1.75 million primary students. Overcrowded temporary shelters have raised protection concerns, particularly for women and girls.
In Noakhali, over 50 per cent of the affected areas remain unreachable by local authorities and front line responders. The affected communities have minimal access to markets, necessitating most agencies to provide in-kind support, the government report said.
Another ERD official said: "We have already met the WB. The global lender is positive about the financing. We are hopeful of getting the fund by March next year."
He said the Bangladesh government has also requested some other development partners, including the Asian Development Bank (ADB) and Japan, to help reconstruct the flood-affected areas.