IDA to support BD poorest

The government and the International Development Association (IDA) of the World Bank (WB) will sign a 'financing agreement' for implementing a project titled 'Income Support Programme for the Poorest (ISPP)' to benefit the poorest people of the country, reports UNB.

Senior Secretary of the Economic Relations Division (ERD) Mohammad  Mejbahuddin and World Bank Country Director in Dhaka Johannes Zutt  will sign the deal on behalf of their respective sides at the NEC  conference room, said an official on Sunday.

Earlier in December last, the WB Executive Directors approved a credit in the amount of SDR 202.4 million (US$ 300 million equivalent) for Bangladesh for the 'Income Support Programme for the Poorest Project'.

They underscored the importance of building on the lessons of the successful conditional cash transfer pilot which underpins the proposed operation.

Despite Bangladesh's remarkable record in reducing poverty over the last three decades, directors noted the persistence of high poverty rates which pose a daunting development challenge for the country.