The World Bank to provide 1.04 billion dollar to deal with Corona

Staff Correspondent,, Dhaka
World Bank

World Bank

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The World Bank is providing 1.04 billion as loan assistance to Bangladesh under three agreements to tackle the Corona and recover the economy. Money can also be spent from here to buy vaccines.

A press release issued by the World Bank's Dhaka office on Wednesday (April 14) said the World Bank had entered into a loan agreement with the government's Economic Relations Department (ERD). The agreement was signed by ERD Secretary Fatima Yasmin and Mercy Tembon, the World Bank's Country Director for Bangladesh and Bhutan.

Commenting on the agreement, Mercy Tembon, Country Director of the World Bank, said Bangladesh needs to rely on vaccinations to revive its economy. Under this World Bank funding, one third of the total population of Bangladesh can be vaccinated. Private investment will increase in special economic zones. Besides, electronic government procurement (e-GP) system will also be developed.

Tembon added that Corona has caused numerous obstacles around the world. Even then, Bangladesh has dealt with Corona quite well through the announcement of incentives and social security programs.

ERD Secretary Fatima Yasmin said the funding would help vaccinate ordinary people in the country. In this way, the economy can be restored and stabilized by tackling corona.