World Bank approves $100 mln loan to Bangladesh
DHAKA, March 12 (Reuters) The International Development Association (IDA), part of the World Bank, will give Bangladesh a 0 million loan to reform the country's education system.
''While Bangladesh has made impressive gains in access to education, governance constraints have contributed to the poor quality of education at all levels'' Christine Wallich, World Bank Country Director for Bangladesh, said in a statement.
''This project supports reforms that will significantly reduce rent-seeking opportunities and enhance cost effectiveness in the sector. Most importantly, it will lead to more equitable access to good quality secondary education,'' she said.
Bangladesh's gross primary enrolment rates are close to 100 percent, the statement said.
The credit would be provided at a rate of 0.75 percent service charge per annum repayable in 40 years including a 10 years grace period.
REUTERS CH RN1639