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- The World Bank (WB) has approved a financing of USD 1.25 billion for three new projects in Bangladesh to help Bangladesh achieve greener and more resilient development and greater inclusion. The financing was approved after the meeting of the Bank to discuss a new Country Partnership Framework (CPF) for Bangladesh (2023-27) on Friday.
- The CPF will support Bangladesh’s goal to achieve upper-middle-income country status by 2031 by helping the country address key barriers to higher and sustainable growth. It will help develop a diversified and competitive private sector to create more and better jobs; promote socio economic inclusion to expand opportunities for all; and address climate and environmental vulnerabilities, said WB in an official release.
- World Bank Country Director for Bangladesh and Bhutan Abdoulaye Seck said that the CPF will support the government’s reform programs to deliver jobs and support inclusion and resilience.
- Out of the three projects, USD 500 million Program on Agricultural and Rural Transformation for Nutrition, Entrepreneurship, and Resilience (PARTNER) project will help promote diversification, food safety, entrepreneurship, and climate resilience in the agri-food systems. The USD 500 million First Green and Climate Resilient Development Credit will help the country’s transition to green and climate-resilient development. The USD 250 million Sustainable Microenterprise and Resilient Transformation (SMART) project will help transform the micro-enterprise sector into a more dynamic, less-polluting, resource-efficient, and climate-resilient growth sector.
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Published date : 28 Apr 2023 04:14PM
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