The World Bank has approved a $100 million loan, its third, to help Bangladesh in its efforts to reform its education sector. The loan is meant for an education sector project focused on improving quality and access in the country's secondary education system, a World Bank statement said on Saturday.
Gross primary enrolment rates in Bangladesh are around 90 percent, and the secondary enrollment rate has more than doubled to 57 percent over the past two decades.
"The programme particularly focuses on increasing accountability and transparency in the use and allocation of resources," the global lending agency said in the statement. The first loan was approved by the World Bank in August, 2004 and a second in February, 2006.
The loan from the International Development Association (IDA), the World Bank's concessionary arm, has 40 years to maturity including a 10-year grace period with a service charge of 0.75 percent.
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