World Bank Grants $300M Loan for Secondary Education
The World Bank has approved a loan of 300 million USD for the secondary education sector of the country. The government of Bangladesh can use this money to compensate for the losses caused by the Covid epidemic, to ensure the availability of blended methods of in-person and online teaching, to improve the quality of learning outcomes and to reduce student dropout rates. This information was informed in a press release sent from the headquarters of the World Bank on Saturday (September 23).
The World Bank’s Board of Executive Directors approved the money for Bangladesh on Friday local time in Washington. Bangladesh will spend this money in 2024 under the ‘Learning Acceleration in Secondary Education’ (LAISE) project.
The head of World Bank’s Bangladesh and Bhutan office, Abdolaye Sek, said, ‘Bangladesh has achieved great progress in the past years among developing countries in bringing gender equality in the field of lower secondary education. But the prolonged closure of schools during Covid has had a very negative impact. A large proportion of girls from poor families drop out of school. The World Bank will always be there to compensate the loss of the education sector in Bangladesh.
The World Bank has given around 40 billion US dollars to Bangladesh as grants, interest-free and on low terms. 56 projects in Bangladesh are still running with one of the development cooperatives.