Bangladesh to receive $300m WB loan to implement RELI project
To this end, the global lender signed a loan agreement with the Bangladesh government on Monday
The World Bank is going to finance $300 million to the Resilience, Entrepreneurship and Livelihood Improvement (RELI) Project to be implemented in Bangladesh to help marginalised populations overcome losses created by the Covid-19 pandemic and climate change.
To this end, the global lender signed a loan agreement with the Bangladesh government on Monday, said a media statement.
Fatima Yasmin, the government's secretary to the Economic Relations Division (ERD) and Mercy Miyang Tembon, country director of the World Bank, signed the deal on behalf of their respective parties at a ceremony held in Dhaka.
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The project also aims to reduce poverty and create entrepreneurs in the post pandemic era.
The project will cost a total $341 million. Of the cost, $41 million will be generated from local sources.
The five-year-long project will be implemented from 2021 to 2026.
