Bangladesh, World Bank sign 300 mln USD loan deal for women, children project

DHAKA, Feb. 10, (NsNewsWire) —  Bangladesh has  signed a 300 million U.S. dollars financing agreement with the International Development Association (IDA) for the Income Support Program for the Poorest Project.

IDA is the World Bank’s concessional arm that helps the world’s poorest countries.
Mohammad Mejbahuddin, senior secretary of Bangladesh’s Economic Relations Division, and Johannes Zutt, World Bank country director for Bangladesh, signed the agreement on behalf of their respective sides on Monday here in Dhaka..

The project will provide cash transfers to the poorest mothers to reduce their poverty with the objective of improving their children’s nutrition and cognitive development.

According to a state of the Washington-based lender, about 600,000 poor mothers and pregnant women will receive monthly payments through biometric-enabled Bangladesh Post Office cash cards for participating in activities aimed at the growth and development of their children.