Bangladesh will receive a$600-million loan from the World Bank in order to improve electricity supplies to rural areas, in order to reduce poverty and create jobs, the multilateral lender said in a statement on Saturday.
The loan was approved by the World Bank’s board a day earlier. The credits from the International Development Association (IDA), the World Bank’s concessionary arm, have 40 years to maturity with a 10-year grace period and carry a service charge of 0.75 per cent.
Mohammad Saiful Islam, a director of the Bangladesh Power Development Board, told Reuters; “The project will contribute to improving the quality and reliability of power supplies to 25m people in rural Bangladesh.” Around 80pc of Bangladesh’s 160m people live in rural areas. The World Bank estimated that nearly 75m of them lacked access to electricity.
The The International Apparel Federation (IAF) has won EU funding for a project with association members BKMEA (Bangladesh Knitwear Manufacturers and Exporters Association) and HCIA (Hellenic Clothing Industry Association). The project is aimed at capacity building, network extension and knowledge … read more
BANGLADESH faces many challenges like corruption, dysfunctional parliamentary government, a poor human rights record, communal conflict, periodic environmental disasters, and poverty and so on. But despite all these, it has some positive achievements in the social and economic areas. In … read more
The Asian Development Bank (ADB) will lend Bangladesh $500 million to help finance a major overhaul of secondary education to meet the country’s need for skilled, technology-savvy workers. ADB funds will finance new equipment, laboratories, classrooms and teacher training, and … read more
The Asian Development Bank yesterday celebrated its 40th year in Bangladesh with a firm commitment to strengthening its partnership with the government, civil society and stakeholders to help the country unlock its potential. The Manila-based lender also expressed strong determination … read more
Bangladesh is placing Grameen Bank, which pioneered small loans for the poor, under closer scrutiny by the country’s central bank. The Cabinet of Prime Minister Sheikh Hasina on Thursday approved the draft of a law to regulate Grameen. The law … read more
Bangladesh is among top 10 recipients of officially recorded remittances for 2013, which is larger than the national foreign exchange reserve, says a World Bank report. In the last several years, Bangladesh’s foreign exchange reserve continued to swell crossing the … read more
The National Board of Revenue in Bangladesh announced it will offer a 15-year tax break for coal-fired power generation in a move aimed at spurring private investment in the nation’s power industry, reports The Daily Star. According to the article, … read more
If there is any doubt that the global apparel trade has involved a massive scramble to the bottom when it comes to wages and working conditions, the Center for American Progress and the anti-sweatshop Workers Rights Consortium would like to … read more
The reconditioned car traders have expressed mixed reactions to the proposed budget for fiscal year (FY) 2013-14. They said the effort of the government to reduce the discrimination of import duty between old and new cars is praiseworthy. But the … read more
ADN Telecom Ltd. [Formerly known as Advanced Data Networks System Ltd.] is an ISO 9001 : 2008 certified company to provide seamless and secured data & internet connectivity to various grades of customers using fiber, satellite and wireless solutions. ADN … read more
Submit Your Innovation Here .Application Form Innovation Fund by A2I. In line with Government’s Vision 2021, Access to Information (A2I) project has been playing a critical role in revolutionizing public service delivery in Bangladesh. A2I’s Horizon Scan Report (2007) indicated … read more