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The World Bank is planning new initiatives to identify and support mutually beneficial projects in power and water management sectors as part of regional integration in South Asia. After a meeting with Foreign Adviser Iftekhar Ahmed Chowdhury, World Bank Vice President Praful Patel (pictured) told reporters that the Bank has discussed the matter with Bangladesh and will talk to Nepal and India to support win-win projects in power or water management.

'South Asia is least integrated as compared to others. Regional integration will not only help increase GDP growth rate, but will also increase capability of facing natural disasters like climate change, floods or cyclones in a better way,' he said. ..." [United News of India/Factiva]

United News of Bangladesh reported that "...He said India is the worst power-starved country and a regional cooperation could be worked out on win-win basis through consultations among Bangladesh, India and Nepal to meet the power shortage.

On Bangladesh-World Bank cooperation, Patel said the Bank would continue support to the development agenda of the caretaker government. ..." [United News of Bangladesh/Factiva]

Xinhua noted that "The World Bank will provide Bangladesh with $100 million credit to help finance part of the resource gap incurred by devastating cyclone Sidr that hit the country on November 15 last year. An agreement to this effect was signed in Dhaka Monday by Bangladesh and International Development Association (IDA)...

The quick disbursing credit would allow the government to access financial assistance necessary to mitigate the impact of the cyclone Sidr that caused huge damage to crops and property apart from human lives. ..." [Xinhua/Factiva]

Source: World Bank Press Review, January 29, 2008