The World Bank has approved USD 1.05 billion for three projects in Bangladesh to generate quality jobs and boost economic recovery in the wake of the COVID-19 pandemic. The three projects namely: Private Investment and Digital Entrepreneurship (PRIDE), Enhancing Digital Government and Economy (EDGE), and Second Programmatic Jobs Development Policy Credit, are expected to help the economy in its recovery by generating jobs and encouraging direct private investment in specialized economic zones.
Private Investment and Digital Entrepreneurship (PRIDE):
Private Investment and Digital Entrepreneurship (PRIDE) is a USD 500 million worth project. It will bolster the social and environmental standards in selected economic zones and software technology parks in Bangladesh. It will also led to the creation of first digital entrepreneurship hub of Dhaka in the Janata Software Technology Park and will help the nation to attract $2 billion of Foreign Direct Investment (FDI). It will generate over 1.5 lakh jobs of which a certain percentage will be reserved for women.
Enhancing Digital Government and Economy (EDGE):
Enhancing Digital Government and Economy (EDGE) is a USD 295 million worth project. It will create an integrated, cloud-computing digital platform for all government agencies and enhance cyber-security. It will also establish a digital leadership academy, hence generating 1 lakh jobs and training 1 lakh youth in digital technologies.
Second Programmatic Jobs Development Policy Credit:
Second Programmatic Jobs Development Policy Credit is a USD 250 million worth project which will develop fiscal space to help the government’s response to the COVID-19 crisis.
Important takeaways for all competitive exams:
Did you know there is a special island in the world where giant tortoises roam…
Did you know that beneath the ocean floor lies one of the most valuable energy…
Chapchar Kut which is the major spring festival of Mizoram and it was celebrated with…
Did you know that in many countries, rivers are not just water sources but the…
The New Income Tax Rules 2026 are notified and which will come into effect from…
The Telangana State government has unveiled the major welfare push in the Telangana Budget of…