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ADB, WB to give $ 850mn loans for 3 projects

Senior Correspondent | banglanews24.com
Update: 2018-10-25 7:00:24 PM
ADB, WB to give $ 850mn loans for 3 projects

DHAKA:  Asian Development Bank (ADB) and World Bank (WB) will give USD 850 million loans, which is equivalent to roughly Tk 7000 crore, for three developmental projects in Bangladesh.

On behalf of Bangladesh government, Senior Secretary of Economic Relations Division Kazi Shafiqul Azam signed the contract with ADB, and World Bank in city’s Sher-e-Bangla Nagar NEC on Thursday (October 25).

The projects are 'Urban Health Care Services Delivery, ‘Fourth Primary Education Development Program’ and 'Sustainable Coastal and Marine Fisheries.'

ADB gives USD 610 million for the first two projects while World Bank gives USD 240 million for the last project.

The program aims to reduce double-shift operations at schools by recruiting more teachers and building more classrooms, step up teacher education and provide needs-based training for teachers and teacher educators, reform examinations and assessments, as well as enrich teaching and learning resources such as with digital materials.

It will also expand education services for out-of-school children through learning centers, bring more children with special education needs and disabilities to schools, improve school-level performance and management, and strengthen institutions.

On the other hand, the urban primary healthcare services project is recognized as an innovative model of partnership between the government, which contracts out health service delivery, and service providers (mainly nongovernment organizations).

The Sustainable and Marine Fisheries Project will help improve fisheries management systems, infrastructure, value chain investments, and encourage private sector investment to increase the availability and quality of sea fish. It will also support reforms in fisheries policies and regulations.

BDST: 1859 HRS, OCT 25, 2018

AH/AP/SMS

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