WB giving Tk 150cr for PPE, medical equipment production...

Dhaka, Saturday   15 May 2021

WB giving Tk 150cr for PPE, medical equipment production

 Staff Correspondent daily-bangladesh.com

 Published: 02:09 PM, 20 April 2021  

File Photo

File Photo

The World Bank (WB) is providing a grant of Tk 150 crore to Bangladesh for the production of Personal Protective Equipment (PPE) and medical equipment for the global deadly pandemic Coronavirus (Covid-19). The financial assistance will be provided under the Export Competitiveness for Jobs (EC4J) project of the Ministry of Commerce. 

Under this project, assistance will be provided to the Medical and Personal Protective Equipment (MPPPE) manufacturing companies through the ‘Covid-19 Enterprise Response Fund’.

Under the project, $1.75 crore or Tk 150 crore assistance will be given as per the Export Radiance Fund (ERF) of the Matching Grant Program.

Institutions capable of producing MPPPE products will be eligible for this grant. If the grant applicant falls in the category of small and medium industries, they will get a 60 percent grant from this project. The applicant participation will be 40 percent. Besides, in the case of large industries, the amount of grant will be 50 percent.

Grants apply to products and services

Personal Protective Equipment (PPE), Diagnostic Equipment, Clinical Care Equipment. 

MPPPE product design and technical quality development, packaging and diversification and design formulation as per the customer demand, MPPPE product support activities such as – research, product development, testing and certification and new innovations.

Commerce Minister Tipu Munshi said the program was a milestone in tackling the current COVID situation. Entrepreneurs involved in the production of PPE, diagnostic equipment and clinical equipment will benefit financially through this. 

“Such assistance is timely. We have to implement this program with efficiency. The people of Bangladesh and the world will benefit through this fund,” he added.

Salman F Rahman, Adviser to the Prime Minister on Private Industry and Investment, said increasing the diversification of export products is a big challenge for the government. There is a challenge to increase employment opportunities. This project will play a role in meeting both the challenges.