WB gives $191 million for higher education, Covid-19 response

Staff Reporter :
The World Bank (WB) and Bangladesh on Tuesday signed a $191 million financing to strengthen the higher education sector and respond better to the COVID-19 pandemic.
Sharifa Khan, Secretary, Economic Relations Division, Government of Bangladesh and Abdoulaye Seck, World Bank Country Director for Bangladesh and Bhutan, signed the financing deal on behalf of the respective sides in presence of World Bank Vice President for South Asia Martin Raiser, said a WB press release on Tuesday.
The Higher Education Acceleration Transformation Project will support regional and global collaboration, research and innovation in higher education. It will help more women access to quality tertiary education.
However, World Bank Vice President (VP) for South Asia, Martin Raiser, concluded his two-day visit to Bangladesh on Tuesday and reaffirmed the World Bank’s continued support to help the country achieve sustainable and inclusive growth.

Raiser visited Bangladesh as part of his current visit to the South Asia Region. He met with the Bangladesh Bank Governor, Energy Minister, Senior Secretary, Ministry of Finance, Secretary, Economic Relations Division, and other senior government officials.
They discussed the World Bank’s new country partnership framework for Bangladesh for fiscal years 2023-27 as well as how the World Bank support can be best utilized to help Bangladesh navigate the global uncertainties and increasing climate change impacts.
Raiser urged speeding up the pace of implementation of the World Bank-supported projects.
“Bangladesh faces continued external pressures, which require careful macroeconomic management, but also a deepening of structural reforms to attract more private investment, boost jobs and strengthen resilience against climate shocks,” said Raiser.

“We stand ready to redouble our support under our new country strategy and accelerated implementation of our large existing portfolio,” he added.