DHAKA: The World Bank (WB) will give Tk 1,600 crore to develop lifestyle and eradicate poverty of the village people.

An agreement between the government and WB has been signed in this regard at NEC Conference Room in city’s Sher-e-Bangla Nagar area Tuesday afternoon.

Economic Relations Department (ERD) additional secretary Kazi Shafiqul Azam and WB acting country director Christine E Kimes signed the agreement on behalf of their respective organizations.

The accord was signed under ‘New Life Livelihood Improvement’ project where several programs will be implemented including the enhancement of efficiency to overcome natural disaster caused by climate change.

The project will be implemented in 22 districts where the most number of ultra-poor people live. At least, 50 lakh ultra-poor people will be benefited through this project.

However, the project will be implemented from July 1, 2015 to June 30, 2021.

The installments of the loan will be paid in 38 years with a six-year grace period and the service charge is 0.75 percent.

BDST: 1910 HRS, May 05, 2015
BD/RR