The World Bank (WB) has cleared a loan for $100.5 million to improve public spaces and urban services in four large neighborhoods under Dhaka South City Corporation.
The Breton Wood Institution approved the amount for Dhaka City Neighborhood Upgrading Project under DSCC to improve the living condition in four selected neighborhoods, says a statement by the multilateral lending agency.
The project aims to improve public open spaces like parks, playgrounds, waterfronts; streets, sidewalks, and public buildings such as community centers with integrated public facilities, the statement read.
It also said that the project will specially cater to the needs of women, youths, elderly and disabled, who often refrain from using public amenities.
The four neighbourhoods are: Kamrangir Char, Lalbagh, Sutrapur-Nayabazar-Gulistan and Khilgaon-Mugda-Bashabo.
The project aims to 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.
The credit from the WB’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.
WB’s Country Director for Bangladesh and Bhutan Robert Saum said Dhaka was the country’s most important economic center accounting for one-fifth of its GDP and almost half of its formal employment.
“But, its infrastructure could not keep up with its population growth,” he said noting that Dhaka’s population grew from 3 million in 1980 to 18 million today.
Saum said global experience shows that good public urban spaces are fundamental to improving the quality of life, a fact that prompted the World Bank to approve the project in Bangladesh to “pilot interventions to enable the residents’ better use and enjoy public urban spaces”.
WB team leader for the project on Kher Kaw said it would “address challenges of unplanned urbanization in the four neighborhoods” while residents there could immensely improve the living standards by improving safety, health, mobility, recreation and economic vibrancy.
The statement said that the project would help increase green open spaces by enhancing selected parks, streets and waterfront areas, in both low-income neighborhoods and downtown areas.
It said the 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.