The Asian Development Bank (ADB) will provide a USD 100 million loan to PKSF under the ‘Inclusive Affordable Housing Finance Project’ to expand access to safe, affordable and disaster-resilient housing for low- and middle-income people. PKSF will implement the project through selected Partner Organizations (POs). By 2031, the project will provide at least 40,000 families with access to long-term, collateral-free housing loans. A Loan Agreement between the Government of Bangladesh and ADB and a Project Agreement between PKSF and ADB were signed today for the implementation of the project.

At the signing ceremony held at a hotel in Dhaka, Md Shahriar Kader Siddiky, Secretary, Economic Relations Division, Ministry of Finance, signed the Loan Agreement on behalf of the Government of Bangladesh, while Dr AKM Nuruzzaman, Senior General Manager, PKSF, signed the Project Agreement on behalf of PKSF. Qingfeng Zhang, Country Director, Bangladesh Resident Mission, ADB, signed both agreements on behalf of ADB.

The project will place particular emphasis on improving housing security for women and people living in disaster-prone areas. Of the targeted borrowers, at least 32,000 will be women, while at least 24,000 will be from areas vulnerable to natural disasters. The loans can be used to construct new houses as well as repair and improve existing ones. The project will particularly expand access to housing finance for low- and middle-income families who have limited access to conventional housing loans.

The project will also promote housing that can better withstand floods, cyclones, extreme heat and other natural disasters and extreme weather events. Disaster and climate risks will be taken into account in housing design, construction and protection measures. This will not only provide safer homes but also help reduce risks to families’ lives and assets and strengthen their long-term resilience.