Bangladesh government and the World Bank on Monday signed a US $ 510 million loan agreement with a view to enhance the quality and effectiveness of secondary education system in the country.
In addition, the government also signed $10 Million Global Financing Facility Grant Agreement with the International Development Association of the World Bank group.
The agreement was signed by Kazi Shofiqul Azam, secretary of Economic Relations Division and Rajashree Paralkar, acting World Bank country director for Bangladesh, Bhutan and Nepal, on behalf of the government and the World Bank respectively at the Economic Relations Division in the city.
The Transforming Secondary Education for Results programme will focus on improving quality and access to education so that students, specially girls and children from low income households, can complete their secondary education through providing stipends and school grants.
Through benefitting 13 million students studying in grades 6 to 12, the programme will support modernisation of the curriculum, reformation of examination system, learning assessments of students in grade 6, 8 and 10 to identify learning gap and suggest policy actions, she said.
Kazi Shofiqul Alam said, ‘This financing will contribute to the government’s nation-wide Secondary Education Development Programme.’
The credit form the World Bank’s IDA with zero-interest loan has a 38-year term including a six-year grace period, and a service charge of 0.75 per cent.
The TESRO will be implemented for the period of January 2018 to December 2022.
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