Dhaka, Bangladesh (BBN)– Bangladesh has signed two financing agreements totaling $715 million with the World Bank (WB) to improve the primary education sector.

Both agreements were signed by Kazi Shofiqul Azam, Secretary of Economic Relations Division and Qimiao Fan, World Bank Country Director for Bangladesh, Bhutan, and Nepal on behalf of the government and the World Bank, respectively, at the Economic Relations Division in the capital Dhaka on Thursday.

The credit from the WB’s International Development Association, which provides grants or zero-interest loans, has a 38-year term, including a six-year grace period, and a service charge of 0.75 per cent, according to a WB statement.

By improving quality and access to primary education, the $700 million Quality Learning for All Program will benefit more than 18 million children studying in pre-primary level to grade 5.

The project will help improve learning by developing a stronger curriculum and exam system, creating a well-trained teacher pool, using ICT in education and regular systematic assessment.

In all government schools, the project will help improve recently introduced one-year pre-primary education, the WB said.