WB grants $210m for early childhood development

The World Bank has given its approval for a funding of US$210 million. This funding will be used to enhance the nutrition of around 1.7 million vulnerable pregnant women and mothers with children under the age of four.
The World Bank's Board of Executive Directors approved the fund for the Bangladesh Enhancing Investments and Benefits for Early Years (BEIBEY) Project to provide cash transfers and counseling services to improve nutrition.
And, it will directly benefit about 1.7 million pregnant women and mothers of children under 4 years of age in vulnerable households, according to a media release from the World Bank Dhaka office on Wednesday.
"Under current education and health systems, a child born today in Bangladesh would only be 46 per cent as productive as they could potentially be," said Abdoulaye Seck, World Bank Country Director for Bangladesh and Bhutan.
His statement emphasizes the importance of providing proper nutrition during pregnancy and in the first 1000 days of a child's life, as well as responsive caregiving throughout childhood.
These factors contribute to optimal brain development and overall health in children, he said adding by investing in these areas, children are more likely to grow up to be productive and earn higher incomes.
"The project aims to educate and support poor mothers in providing timely and appropriate care for their children, ultimately improving their health and well-being" Seck quoted in the statement.
Despite significant gains in human development, poor nutrition and poverty among children remain a pressing challenge in Bangladesh and were exacerbated during the COVID-19 lockdowns.
"Poverty, parental distress, and lack of age-appropriate engagement and stimulation are some of the key risks that jeopardise children's optimal development," said Aneeka Rahman, World Bank Senior Social Protection Economist and Team Leader for the project.
"Supporting children from the earliest stages, including proper nutrition and healthcare for pregnant women, can greatly boost Bangladesh's economic and demographic potential. Investing early in a child's life, especially during their crucial developmental years, can lead to significant benefits for the entire nation," Rahman said in the release.
The project is financed by a credit from the World Bank's International Development Association (IDA), which provides concessional financing and has a 30-year term with a five-year grace period.
The World Bank is among the first development partners to support Bangladesh. It has committed about $40 billion in grants, interest-free and concessional credits to the country since independence.

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