The Turag-Buriganga River, which flows through the capital Dhaka, is among the most important river systems in Bangladesh. It is pivotal to the socio-economic and environmental development of Dhaka [3], which contributes 40% to the GDP of Bangladesh [10]. However, given the water pollution caused by unplanned anthropogenic activities, the river body had a dissolved oxygen (DO) value below 3 mg/L and a biochemical oxygen demand (BOD) value above 34 mg/L in 2020 [11; 12]. Furthermore, [PERSON] and [PERSON] conducted a cost-benefit analysis of this river system in 2006 and highlighted that this polluted river system incurred a loss of 79.36 million USD due to the loss of socio-economic-environmental benefit [13]. Moreover, issues associated with polluted rivers, such as the spread of water-borne diseases, property value reduction, natural resource destruction, and unsustainable development, are also rampant [8]. Hence, the Bangladesh government initiated a river restoration program, the \"Buriganga River Restoration Project\", in 2010 to address the Turag-Buriganga River system water pollution [14] and increase the DO value above 4 mg/L by increasing streamflow from 5 m\({}^{3}\)/s to 160 m\({}^{3}\)/s. A successful restoration project is vital for sustainable development in Bangladesh, and it must be evaluated holistically and dynamically. However, policymakers have not conducted a dynamic assessment of the impact of this project. They have not analyzed the impacts of increasing river water pollution to determine water quality over time. They have also not considered feedback from and interaction of different sub-systems that affect the project and how assets are changing based on these feedbacks and interactions. Furthermore, they have not evaluated the intergenerational well-being of society as an outcome of the project [14; 15]. Such issues must be analyzed to assess the sustainability of the project. For instance, combining comprehensive metric and system-based modeling would efficiently help determine the impacts while accounting for dynamic, multiple feedback, and coupling among different components [16]. Therefore, this study employed a combined modeling approach based on the inclusive wealth (IW) index (IWI) (an evaluation criterion for tracking intergenerational well-being), the Streeter-Phelps' model (a pioneer water quality model for rivers), and system dynamics (SD) (a tool for sustainability assessment through model building). The United Nations University's International Human Dimensions Programme (UNU-IHDP) on Global Environmental Change and the United Nations Environmental Programme (UNEP) developed the IWI to estimate national, systemic, and regional intergenerational well-being and sustainability in 2012. It is the sum of the produced, human, and natural capital assets of a society [17]. Project evaluation based on three capital assets and IW might guide the transition toward sustainability. IW (GDP) tracks sustainability based on stocks (flow) [17]. It indicates the true assets or combined capital stocks of society, which are estimated based on shadow prices. It has three main features: an integrated index to evaluate human, natural, and produced capital wealth; sustainability evaluation internalization by measuring stocks; and analysis of trade-offs among capital assets. There are several other indicators for sustainability evaluation, such as GDP, green GDP, human development index (HDI), genuine progress indicator, ecological footprint, Happy Planet Index, environmental sustainability index, and environmental performance index [18]. However, they are limited in that they cannot capture holistic dimensions of sustainability. For example, GDP and green GDP do not consider negative externalities and all types of environmental damage, ecological footprint does not cover economic and social dimensions, and HDI does not include any nature aspect [18; 19; 20; 21; 22].