World Bank approves 476 mln USD for Bangladesh

DHAKA, June 7 (Xinhua) — The World Bank has approved a total of 476 million U.S. dollars for two projects in Bangladesh to develop a strong financial sector and to improve agricultural productivity for one million poor farmers.
According to a statement of the Washington-based lender reaching here Sunday, the projects approved by the bank’s Board of Executive Directors are 300 million U.S. dollars for the Financial Sector Support Project and 176.06 million for the Second National Agricultural Technology Program.
“These two projects will support Bangladesh to reach middle- income status by strengthening the financial sector and ensuring greater food security. These, in turn, will create more and better jobs,” said Johannes Zutt, World Bank Country Director for Bangladesh.
“Bangladesh has made remarkable progress in reducing poverty in the last decades. But Bangladesh has the potential to achieve higher growth if it addresses bottlenecks holding back economic development.”  Enditem