WB approves Tk 2,507.50cr loan to Bangladesh...

Dhaka, Thursday   27 January 2022

Beximco LPG Gas

WB approves Tk 2,507.50cr loan to Bangladesh

 Staff Correspondent daily-bangladesh.com

 Published: 11:31 AM, 10 January 2022   Updated: 11:54 AM, 10 January 2022

File Photo

File Photo

The World Bank (WB) has approved $29.5 crore, Tk 2,507.50 crore in Bangladeshi currency, loan under the Enhancing Digital Government and Economy project.

A loan agreement was signed between the Economic Relations Division and the WB at the NEC conference room in the capital on Sunday. 

The agreement was signed by Fatima Yasmin, Secretary of Economic Relations Division, on behalf of the Government of Bangladesh and Mercy Miyang Tembon, Country Director of World Bank Dhaka Office, on behalf of the World Bank.

The project will be implemented by Bangladesh Computer Council under the Information and Communication Technology Division. The duration of the proposed project is from January 1 of this year to December 31, 2026, with a commitment fee of 0.25 percent. 

The loan will be repaid in 34 years with a grace period of 4 years as per the terms of the World Bank.

The main objective of this project is to create a conducive environment for the expansion of the digital economy in Bangladesh and to expand the domestic information and communication technology industry. Through this, skilled manpower will be created and job opportunities will be created through the formulation and training of strategies and action plans to tackle the 4th Industrial Revolution for the development of the digital economy.

The project will enable digital enhancement of public and private sectors and digitization of small and medium enterprises and will encourage domestic and international organizations to invest in Bangladesh. 

Besides, training and research on digital economics will be created through the establishment of a Digital Leadership Academy to enhance the digital capabilities of the Government of Bangladesh.