Monday, July 26, 2021

Bangladesh receives over USD 1 billion financing for vaccination and COVID-19 pandemic response- World Bank

Bangladesh received over USD 1 billion financing from the World Bank to respond to the COVID-19 pandemic and to build resilience to the future crisis including vaccination against the COVID-19.

It received USD 500 million under the COVID-19 emergency Response and pandemic preparedness project to vaccinate over 54 million people against the virus. The funding will help the government to procure vaccines, expand storage facilities and distribute the vaccines. It will also support and strengthen the national health systems to detect, prevent and treat COVID 19 cases and preparedness for future emergencies, said a press release of the World Bank.

World Bank Country Director for Bangladesh and Bhutan Mercy Tembon said that these projects will help vaccinate about one third of the population and help attract direct private investment in SEZs.

Another installment of USD 500 million finance under the Private Investment and Digital Entrepreneurship (PRIDE) Project will promote and attract USD 2 billion direct private investments and strengthen social and environmental standards in selected public and private economic zones and software technology parks.

By creating more jobs and attracting domestic and foreign private investment, including in the IT and ITES sectors, the project will help the economy to rebound from the impact of COVID-19.

The World Bank has provided USD 40 million financing under the Digitizing Implementation Monitoring and Public Procurement Project (DIMAPP). It will help Bangladesh expand electronic government procurement (e-GP) to all public procurement entities with new features to respond to the COVID-19 challenges.

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