The World Bank and Bangladesh on Thursday signed five financing agreements worth over $1.1 billion to help the country achieve resilient and inclusive growth.<br />''<br />''The five projects include early childhood development, urban primary health, secondary education, riverbank protection and navigability, and gas distribution efficiency, according to a press release from the World Bank.<br />''<br />''The agreements were signed in Dhaka by Sharifa Khan, Senior Secretary of the Bangladesh Government and Abdoulaye Seck, World Bank Country Director for Bangladesh and Bhutan.<br />''<br />''The credits are from the World Bank's International Development Association (IDA). Bangladesh currently has the largest ongoing IDA program, totaling $16.46 billion in 57 projects, according to the press release. For IDA concessional loans, the maturity period is 30 years with 5 5-year grace period; the interest rate is 1.25% and the service charge is 0.75%.<br />''<br />''Abdoulaye Seck said these projects will help prepare Bangladesh's children for a brighter future while improving resilience to climate change.<br />''<span style="color: #222222;">Sharifa Khan said These projects are aligned with Bangladesh's Eighth Five-Year Plan 2021-2025 and support the country's graduation from Least Developed Country (LDC) status in 2026 and Vision 2041.</span>
News On AIR | November 23, 2023 7:47 PM
World Bank and Bangladesh sign five financing agreements worth over 1.1 billion