European Union (EU) will provide Bangladesh 142 million euros (Tk1,340 crore) in grant, to help the country graduate to a middle-income status by alleviating poverty and inequality.
The fund will be spent in two programmes – some €132 million for “National Social Security Strategy (NSSS)” and €10 million for “Public Financial Management Strategy (PFM-RS)”.
The programmes are expected to be implemented by fiscal year 2023.
To this end, two separate agreements were inked between the EU and Bangladesh government in the National Economic Council auditorium in the capital on Wednesday.
Monowar Ahmed, secretary to Economic Relations Division (ERD), and Rensje Teerink, EU ambassador in Dhaka, signed the documents on behalf of their respective sides.
Acknowledging the EU financial support, ERD Secretary Monowar Ahmed said Bangladesh is looking forward to further strengthening its relations with development partners to reach the Sustainable Development Goals (SDGs) by 2030.
EU Ambassador Rensje Teerink, in his speech, pledged to cooperate with Bangladesh in meeting its 8th Five Year Plan.
The EU partnership aims to address core elements of system strengthening and policy development, with a view to improving domestic resource mobilisation and social security and promoting accountability, he added.