World Bank commits over $1 billion to Bangladesh
Thursday, December 18, 2014
The World Bank has approved approximately $1.1b for three projects in Bangladesh on Tuesday, stated a press release issued by the bank authorities.
According to the press note, the fund would benefit almost 36m people by improving the quality of primary education, building coastal communities’ resilience to natural disaster, and increasing the nutrition and cognitive development of children from the poorest households.
The projects approved by the Bank’s Board of Executive Directors are $400m in additional financing for the Third Primary Education Development Program; $375m for the Multipurpose Disaster Shelter Project; and $300m for the Income Support Program for the Poorest Project, it added.
“These three projects weave a strong story of complementarity in the World Bank’s efforts to create opportunities for the poor—by using cash transfers for mothers to promote better nutrition at home, helping children take advantage of pre-primary education under the primary education program and providing school infrastructure in vulnerable coastal zones,” said Johannes Zutt, World Bank Country Director for Bangladesh.
Source: Dhaka Tribune (link opens in a new window)
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