bdnews24.com :
The European Union has increased its grant assistance to Bangladesh for 2014-2020, by more than 70 percent.
The funds will focus on three sectors that the EU believes is “vital” for poverty alleviation and inclusive and sustainable growth-democratic governance, food and nutrition security, and education and skills development.
The EU has confirmed during a sub-group meeting on development cooperation that €690 million has been put aside as grants for Bangladesh for 2014-2020.
That is a huge jump from €403 million that Bangladesh received from EU between 2007-2013.
Three sub-group meetings were held in Dhaka under the framework of the 2001 Cooperation Agreement that discussed issues of governance, human rights and migration, trade, and development cooperation.
The new grants will come under its ‘Multiannual Indicative Programme (MIP)’.
The 28-countries EU bloc is one of the largest development partners of Bangladesh and also the single largest export destination for its products which enjoy duty-free market access there.
During the sub-group meeting, the EU stressed on the need to strengthen the policy dialogue.
It said that was “a critical factor” to achieve sectoral development by making “the best use of the available resources”. They stressed on the role of budget support for that. The combination of grants and loans known as ‘blending’ is a major funding strategy to finance key infrastructures in Bangladesh.
The European Union has increased its grant assistance to Bangladesh for 2014-2020, by more than 70 percent.
The funds will focus on three sectors that the EU believes is “vital” for poverty alleviation and inclusive and sustainable growth-democratic governance, food and nutrition security, and education and skills development.
The EU has confirmed during a sub-group meeting on development cooperation that €690 million has been put aside as grants for Bangladesh for 2014-2020.
That is a huge jump from €403 million that Bangladesh received from EU between 2007-2013.
Three sub-group meetings were held in Dhaka under the framework of the 2001 Cooperation Agreement that discussed issues of governance, human rights and migration, trade, and development cooperation.
The new grants will come under its ‘Multiannual Indicative Programme (MIP)’.
The 28-countries EU bloc is one of the largest development partners of Bangladesh and also the single largest export destination for its products which enjoy duty-free market access there.
During the sub-group meeting, the EU stressed on the need to strengthen the policy dialogue.
It said that was “a critical factor” to achieve sectoral development by making “the best use of the available resources”. They stressed on the role of budget support for that. The combination of grants and loans known as ‘blending’ is a major funding strategy to finance key infrastructures in Bangladesh.
