Around 40,000 low- and middle-income families in Bangladesh will gain access to safe, affordable and disaster-resilient housing under a $100 million ADB loan to Palli Karma-Sahayak Foundation (PKSF). The Inclusive Affordable Housing Finance Project will run until 2031, with special emphasis on strengthening housing security for women and people living in disaster-prone areas.
The loan proceeds will finance construction of new houses and the repair and upgrading of existing houses, expanding housing finance opportunities for households with limited access to loans through the formal banking system.
A key priority will be housing that can withstand floods, cyclones, extreme heat and other natural hazards and climate-related risks. Disaster and climate vulnerabilities will be integrated into housing design, construction and safety measures.
A loan agreement between the Government of Bangladesh and ADB and a project agreement between PKSF and ADB were signed on Wednesday a hotel in Dhaka.
Economic Relations Division, Ministry of Finance, Secretary Md Shahriar Kader Siddiky signed the loan agreement on behalf of the Government of Bangladesh. PKSF Senior General Manager A K M Nuruzzaman signed the project agreement on behalf of PKSF. ADB Bangladesh Resident Mission Country Director Qingfeng Zhang signed both agreements on behalf of ADB, said a press release on Thursday.
