World Bank to give $1b to Bangladesh for childcare

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Rbd Desk : World Bank President Jim Yong Kim has declared an additional USD 1 billion fund for Bangladesh to develop childcare in the country.

At a joint press conference after holding talks with Bangladesh Finance Minister AMA Muhith at his ministry office in Dhaka, the WB Chief said the fund will be given over the next two years and will be used to develop the situation of child health and nutrition.

Regarding the Padma Bridge issues, Kim said that the bank will instead spend the USD 1.2 billion (bridge funding) for climate related issues in Bangladesh.

Kim added that the amount of loans will be increased globally to 15 percent over the next three years, and as Bangladesh is one of the largest recipients, it will also receive the increase.

The WB Chief is in Bangladesh on a two-day visit to observe the progress Bangladesh has made in transitioning successfully to a lower-middle income country.

He will participate in an event on Monday to mark the International Day for the Eradication of Poverty.

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