Govt signs $200m deal with IDA for employment project

The government of Bangladesh and the International Development Association (IDA) of the World Bank group signed a financial agreement of $200 million loan on Wednesday to implement the "Recovery and Advancement of Informal Sector Employment Project (RAISE)".

Economic Relations Division Secretary Fatima Yasmin and Country Director of the World Bank Mercy Miyang Tembon, Dhaka Office, signed the agreement on behalf of their respective sides, said a press release.

The project will be implemented by Palli Karma-Sahayak Foundation (PKSF) under the Financial Institutions Division of the Ministry of Finance and the Wage Eamers' Welfare Board under the Ministry of Expatriates' Welfare and Overseas Employment.

The project has been taken up with the aim of increasing the economic opportunities of the low-income youth community in urban areas and the migrant workers returning from abroad due to the COVID-19 pandemic.