DHAKA: The government signed an agreement with World Bank (WB) worth Tk 3,120 crore under third Primary Education Development Program (PEDP3).

The signing ceremony was held in National Economic Council (NEC) conference room in city’s Agargaon area on Sunday afternoon.

Senior secretary Mohammad Mejbahuddin of Economic Relation Division was present on behalf of Bangladesh government and country director Johanness Zutt for WB.

The loan will benefit 19.5 million children on primary school by ensuring quality learning and completion of the primary school cycle, said in the ceremony.

Moreover, Johanness thanked the incumbent government to make nearly all children school-going.

He also said, “An educated work force will be critical for Bangladesh’s aspirations to achieve middle-income status.”

Mejbahuddin said, “Investing in education is investing in country’s future. The program reflects Bangladesh’s commitment to the ‘Education for All’ agenda.”

The loan from WB has a 38-year maturity with a 6-year grace period and a service charge of 0.75 percent.

The PEDP3 program will continue the rollout of one year of pre-primary education with trained teachers and quality materials, with a focus on primary schools in remote areas. 

The program will also extend efforts to bring out of-school children into school system.

BDST: 2032 HRS, JAN 25, 2015