The World Bank is lending 300 million dollars to Bangladesh to cope with the coronavirus pandemic and future shocks.
The amount of Bangladeshi currency loan is 2 thousand 854 crore 80 lakh taka (each dollar is equal to 95.16 taka).
On Sunday (August 7) in the agreement signed by the Secretary of Economic Relations Department (ERD) Sharifa Khan on behalf of the Government of Bangladesh and Marcy Tembon, Country Director of Bangladesh and Bhutan on behalf of the World Bank.
According to the World Bank, the Loan Agreement has been signed by the local government for the Covid-19 Response and Recovery Project.
The project will benefit a total of 39.9 million people in eight categories, including urban areas, from January 2022 to December 2025. The loan will have to be repaid within 30 years with a grace period of five years.
The project will be implemented by the Local Government Engineering Department under the Local Government Department.
