Deal signed, WB to provide $100m for edn sector reforms

FE Team | Published: June 24, 2007 00:00:00 | Updated: February 01, 2018 00:00:00

FE Report
The government and the WB signed an agreement Saturday in which the latter will provide US$ 100 million (10 crore) to the former to support, strengthen and sustain its education sector reforms.
The agreement was signed at a simple ceremony at the Economic Relations Division (ERD) National Economic Council (NEC) conference room at Agargaon in the city Saturday.
ERD Secretary M Aminul Islam Bhuiyan and WB Country Director Xian Zhu signed the agreement on behalf of their respective sides.
The International Development Association (IDA), the concessionary arm of the WB, will provide the loan with a maturity period of 40 years with a grace period of 10 years and a service charge of 0.75 per cent.
This is, however, the third such WB credit designed especially to address systemic governance issues in order to make the best use of the resources in improving quality and enhancing access to secondary education.
The first and second WB credits were approved in 2004 and 2006 respectively.
The WB has been supporting the government's initiative to tackle governance problems in secondary education, enhance quality of secondary school teachers and link government support to the performance of the institutions.
The program is expected to lead to greater access to secondary education for all children, especially the poor and marginalised who cannot afford the expenses of secondary schooling.