Dhaka, June 19 -- The Asian Development Bank (ADB) and the World Bank (WB) have approved a combined loan of $1.54 billion for Bangladesh to support banking sector reform, enhance climate resilience, improve air quality, and ensure energy security.

The ADB will provide $900 million for two initiatives -- $500 million to strengthen the banking sector and $400 million to support climate-resilient and inclusive development.

The World Bank has sanctioned $640 million for two separate projects -- $350 million for the energy sector and $290 million to improve air quality.

The ADB's board of directors approved the loans during a meeting held at its headquarters in Manila on Thursday.

On the same day, the World Bank's executive board approved ...