WB set to invest in country's higher education sector

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FE Report
The World Bank (WB) is set to invest in Bangladesh's higher education sector to help develop the capacity of both public and private universities, which lack modern day education system.
The global development lender has fielded a mission to prepare ground for processing a soft loan amounting to US$100 million that will primarily support the local universities.
"The bank's mission will basically prioritise areas in which the universities need urgent attention," a senior education ministry official said.
"There's no denying that Bangladesh's higher education is in dire straits. Most of the public universities are not well-positioned to impart quality education needed to face the challenges of the 21st century. The bank's first ever intervention in the higher education sector is a need of the time," the official noted.
During its four-day mission, the bank's education team will be holding talks with officials of education ministry, university grant commission and leading public and private universities, education ministry official said.
The preparatory mission will start its work from today (Sunday) and conclude on 26th September.
The mission is said to be the prelude to the bank's pre-appraisal mission due for arrival sometime in November, officials added.
The multilateral lending agency has recently submitted a concept note on the proposed lending to the line ministries and government agencies concerned, detailing various components of the project, a source at the ministry said.
The loan will be provided to design new curriculum, train teachers, develop innovative methods of teaching, while carefully avoiding funds for building infrastructure, officials noted.
Of the components, the official noted, one is to set up an "innovative fund" which will be released in connection with research proposals from the universities.
Both public and private universities will be eligible for financing from the fund.
"The fund will be open to competition from local universities. Preference will be given to the quality projects, no matter whether the proposals come from public or private universities," he pointed out.
The sources said although the World Bank remains one of major development partners in supporting Bangladesh's basic education sector, its involvement in the higher education sector is new.
So far, the bank has extended millions of dollars in loans, including budgetary support, for improving Bangladesh's primary and secondary education.
"If administered properly, the loan will make a big difference to the way the country's public universities are run today," one ministry official said in an upbeat note.
A total of about 104 institutions represent the conventional higher education institution (HEI) in Bangladesh.
Segmented by management and financial structure, these include 29 public universities, 56 private universities, one international university, 31 specialised collages, and 2 special universities.
There are specialized universities in both categories offering courses principally in technological studies, medical studies, business studies and Islamic studies. There are two private universities dedicated solely to female students.