$300m WB support for primary edn
The government signed a $300 million financing agreement with the World Bank yesterday for the 'Third Primary Education Development Program (PEDP-III)', says a press release.
The PEDP-III will support the government to increase net enrollment in primary education to 98 percent and to increase primary school completion rate to 65 percent by 2016.
Economic Relations Division (ERD) secretary Iqbal Mahmood and Ms. Ellen Goldstein, World Bank Country Director for Bangladesh, signed the financing agreement.
This programme will support the government in attaining its sixth five year targets for primary education and ultimately contribute to a skilled force, said the ERD secretary.
The credit from the International Development Association, the World Bank's concessional arm, has a maturity of 40 years including a 10-year grace period and carries a service charge of 0.75 percent.
This is the third World Bank programme supporting the government's series of large investments in primary education over the past thirteen years aiming to improve quality, access and retention at the primary level.
Along with the World Bank, eight other development partners have indicated their commitment to support this government programme.
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