Dhaka, Bangladesh (BBN)– The Asian Development Bank (ADB) and the Government of Bangladesh on Thursday signed an agreement for $320 million in soft loan to improve the quality and reach of the primary education system.
M. Musharraf Hossain Bhuiyan, Secretary, Economic Relations Division (ERD) and Thevakumar Kandiah, Country Director of ADB’s Bangladesh Resident Mission, signed the agreement on behalf of Bangladesh and ADB respectively, at a ceremony at ERD, Sher-e-Bangla Nagar, Dhaka.
The assistance for the Third Primary Education Development Project (PEDP-III) will support textbook and curriculum improvements, a teacher development plan and a class assessment system that will result in a more effective, relevant and child-friendly learning environment.
The full project cost is $8.3 billion with the government contributing $7.3 billion equivalent. . ADB’s loan from its concessional Asian Development Fund has a 32-year tenor, including a grace period of 8 years, with an interest charge of 1.0 percent, rising to 1.5 percent for the balance of the term, according to an ADB statement.
The Ministry of Primary and Mass Education will execute the project which is expected to be completed by end June 2016.
“To reduce current access and participation gaps, targeted assistance will be given to disadvantaged groups such as tribal children, ethnic minorities and children living with disabilities. It will also adopt measures to decentralize school governance and management and institutionalize human resource development,” the statement said.
The project will also expand support for early learning by providing funds for one year of pre-primary education and for non-formal and second chance primary schooling.
The project builds on earlier reforms that have helped Bangladesh, which has one of the world’s largest primary school system, increase net enrollments to almost 96 percent in 2010 and to achieve gender parity. Eight other development agencies are supporting the project.
BBN/SSR/AD-15Sept11-8:55 pm (BST)
