The Bangladeshi government and the World Bank have signed a loan agreement worth over $1 billion to support the country's resilient and inclusive growth. The agreement, consisting of five projects, aims to improve early childhood development, secondary education, riverbank protection and navigability, urban primary health, and gas distribution efficiency. This partnership was confirmed in Dhaka by Sharifa Khan, Senior Secretary of Bangladesh's Economic Relations Division, and Abdoulaye Seck, World Bank

Bangladesh signs $1.11bn financing deals with World Bank for resilient, inclusive growth https://t.co/mIiN0Y8EOl

— Md. Shahriar Alam (@MdShahriarAlam) November 23, 2023

Country Director for Bangladesh and Bhutan.

One of the key projects included in this agreement is the Bangladesh Enhancing Investments and Benefits for Early Years Project. This initiative aims to enhance early childhood development by providing cash transfers and counseling services to approximately 1.7 million pregnant women and mothers of children under four in vulnerable households. By focusing on improving learning outcomes and teaching quality, the Learning Acceleration in Secondary Education Operation Project seeks to strengthen secondary education.

Additionally, the Jamuna River Sustainable Management Project 1 and Urban Health, Nutrition, and Population Project aim to improve primary healthcare services, including treatment, prevention, and referral for common illnesses like dengue. Moreover, these projects will work towards enhancing riverbank protection and navigability in the Jamuna River, safeguarding around 2,500 hectares of land against erosion and flooding. The Gas Sector Efficiency Improvement and Carbon Abatement Project, another significant venture, aims to enhance gas distribution efficiency and reduce methane emissions along the natural gas value chain through the implementation of pre-paid metering systems.

Both Bangladesh and the World Bank have a strong partnership focused on achieving the country's vision of attaining upper-middle-income status by 2031 and higher income status by 2041. According to Khan, this collaboration has already had a profound impact on the lives of millions of Bangladeshis, lifting them out of poverty. Seck further emphasized that Bangladesh plays a crucial role in the World Bank's mission to create a world free from poverty on a sustainable planet. This loan agreement signifies a commitment to improving various sectors in Bangladesh and uplift the lives of its citizens. The projects outlined in the agreement highlight the importance placed on early childhood development, education, healthcare, and the environment, which will contribute to the country's overall progress and development.