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WB approves $245m to strengthen safety-net programmes

5 || risingbd.com

Published: 15:25, 18 December 2017   Update: 15:18, 26 July 2020
WB approves $245m to strengthen safety-net programmes

Staff Correspondent: The World Bank (WB) has approved an additional $245 million funding to improve the equity, efficiency and transparency of major safety-net programmes in Bangladesh.

The organisation’s Dhaka office has issued a press release in this regard on Monday.

The government implements a number of safety-net programmes to support the poor and vulnerable, according to the press release.

The press release said the financing to the ongoing Safety Net Systems for the Poorest Project will benefit the country's nine million poorest households.

With the additional financing, the World Bank's total commitment to the project stands at $745 million. The project will close on June 30, 2019.

The credit is from the International Development Association (IDA), the World Bank's concessional lending arm. The credits are interest-free and repayable in 38 years, including a 6-year grace period, and carry a service charge of 0.75 percent.

The additional funding will help improve performance of some of the country's largest safety-net programmes, which are implemented by the Department of Disaster Management. These safety-nets include public workfare and humanitarian assistance programmes.

risingbd/Dhaka/Dec 18, 2017/Hasan/AI

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