EU, BD to ink deal on large grant today

The European Union (EU) will make available Euro 690 million (US$783 million) in the form of grant to Bangladesh over a period of  next seven years to help the latter improve its democratic governance, human rights and food security situations and  create a large pool of skilled manpower, officials said Wednesday.
"An EU delegation from its headquarters is now in Dhaka to confirm the assistance. An aid deal will be signed to this effect today (Thursday)," Abul Mansur Md. Faizullah, additional secretary at the Economic Relations Division (ERD) informed the FE Wednesday last.
The EU delegation will also hold meetings with the three different sub-groups today and tomorrow to review the development cooperation, governance, human rights and educational issues.
Mr Faizullah said the EU will provide Euro 690 million in grants over a period of seven years (2014-2020) for improving Bangladesh's three broad sectors.
The fund will help improve democratic governance and human rights, food security and nutrition and education and skill development in seven years until 2020.
EU Ambassador to Bangladesh Pierre Mayaudon and Senior ERD Secretary M Mejbahuddin are expected to sign the aid deal.
Of the proposed Euro 690 million grants, the EU will provide Euro 103-138 million for strengthening democratic governance, Euro 276-310 million for food security and nutrition, Euro 276-310 million for education and skill development and Euro 7.0 million for supporting measures.
ERD officials said three subgroups are working between the EU and the Bangladesh government to enhance economic and business cooperation.
Mr Faizullah said after every two years, a joint economic commission (JEC) meeting between the government and the EU is held. In the gap between two JEC meetings, the subgroup meetings are organised in every alternate year.
The EU delegation is likely to review Bangladesh's democratic situation, human rights, food security and skilled manpower development issues during its two-day meetings with the government officials, he said.
The EU is one of the major providers of grants to Bangladesh that helps the latter cut its poverty rate by promoting economic and social development.
According to the ERD, Bangladesh had received US$1.71 billion until December last year as grant from the European Commission (EC).
However, the EU does not provide assistance for infrastructure development.
The average amount of the EC's official development assistance to Bangladesh is about Euro 70 to 80 million per year.
At the same time, the EU and its member-countries have become the biggest market for Bangladesh's exports.  
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