World Bank to give Bangladesh $200 million loan to cut poverty

The World Bank will give Bangladesh $200 million loan to raise the living standard of the poor.

The money will be spent on funding income-generating programmes for the ultra-poor in 21 districts.
 
The government and the World Bank entered into an agreement to this effect on Tuesday.
 
Economic Relations Division Additional Secretary Kazi Shafiqul Azam and World Bank acting Country Director Christine Kimes signed the deal in Dhaka.
 
After the signing, Azam told reporters that areas having a high concentration of the poor had been brought under the poverty alleviation project based on the latest poverty map.
 
The people still away from the reach of micro-credit would get help from the fund, he said.
 
He said, “Bangladesh’s poverty alleviation programmes will get momentum with the execution of the project.”
 
Kimes praised the government for the recent declining trend in poverty.
 
She said poverty rate in Bangladesh had dropped substantially but many people were still below the poverty line.
 
The government will have to repay the loan in 38 years, including a six-year grace period, at an annual interest of 0.75 percent.