WB approves $560m for Bangladesh

World Bank has approved $560 million for two projects in Bangladesh to improve power supply and help microenterprises become environmentally sustainable.

The $450 million Enhancement and Strengthening of Power Transmission Network in Eastern Region Project will expand the electricity transmission network in the eastern region, covering the greater Comilla and Noakhali and part of the greater Chittagong, WB said in a press release yesterday.

The $110 million Sustainable Enterprise Project (SEP), also approved yesterday, will help 20,000 microenterprises adopt environmentally-friendly practices.

It covers manufacturing and agribusiness sectors, including leather, mini textiles, light engineering, plastic, food processing, metal products, livestock, horticulture, aquaculture, and poultry, according to the press release.

“The World Bank is helping Bangladesh overcome barriers to higher growth. Unreliable power supply and environmentally-unstainable enterprises hinder a county’s competitiveness and poverty reduction efforts,” said Zahid Hussain, World Bank Acting Country Director for Bangladesh.