Finance
World Bank Loan World Bank to give Tk 5,100 crore loan to Bangladesh
Dhaka, May 22: The World Bank has approved a loan of Tk 5,100 crore (USD 600 million) under two projects to build capacity to cope with the coronavirus situation and develop the country's backward communities. The loan was approved at the World Bank headquarters on Thursday (May 20). This information was given by the Dhaka office of the World Bank on Friday (May 21).
The World Bank says the loan will help Bangladesh's 1.75 million poor and vulnerable people, including youth, women, backward communities and expatriates returning to the country. Besides, it will also help in building capacity to deal with epidemics like the coronavirus.
The Accelerating and Strengthening Skills for Economic Transformation (ASSET) project will receive USD 300 million. Through this, 1 million young people and workers will be able to acquire skills according to the future market. The World Bank has approved USD 300 million for the Resilience, Entrepreneurship and Livelihood Improvement (RELI) project. Under this project, the money will be spent on improving the living standards of 7,50,000 poor and vulnerable people in 3,200 villages in 20 districts across the country.
Dandan Chen, acting country director of the World Bank in Bangladesh and Bhutan, said, "The coronavirus has disrupted the lives and work of thousands of people in Bangladesh. Especially women workers, young and returning workers. These two projects will help to create a suitable job market for the poor people of the village and to become entrepreneurs. Women and backward communities will also get this help."
