Bangladesh borrows €250m from EIB to buy COVID vaccines, strengthen healthcare

Bangladesh has signed a €250 million credit deal with the European Investment Bank to purchase COVID vaccines and strengthen health and social safety.

Senior Correspondentbdnews24.com
Published : 30 Dec 2021, 03:07 PM
Updated : 30 Dec 2021, 03:07 PM

Bangladesh will repay the loans at the six-month average Euro Interbank Offered Rate, plus 0.81 percent, over 20 years with a five-year grace period. The combined interest rate will amount to about 2 percent.

The health ministry will implement the Bangladesh COVID-19 Public Health Programme, the Economic Relations Division said.

Fatima Yasmin, the economic relations secretary, Edvardas Bumsteinas, head of EIB’s Asia and Pacific Division, and Imanol Lecue Gurtubay, EIB’s legal counsel, signed the deal on Wednesday.

Officials said the funds will be used to buy and supply vaccines, strengthen the healthcare system and expand social safety network.