WB provides $265 for education

International Development Association (IDA), the World Bank’s concessional arm, will provide additional $265 million for the ongoing Secondary Education Quality and Access Enhancement Project. Economic Relations Division (ERD) Secretary Mohammad Mejbahuddin and World Bank Country Director Johannes Zutt signed an additional financing agreement on behalf of the government and World Bank respectively at the External Relations Division on Wednesday. The additional financing will help annually 4.5 million poor rural children in 215 upazilas across the country to continue secondary level education. The credit from IDA has 40 years to maturity, including a 10-year grace period with a service charge of 0.75 percent, according to UNB.