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Bangladesh gets World Bank funding to boost infrasturcture

Bangladesh is getting a financial boost from the World Bank to improve infrastructure and obtain long-term financing for industries ranging from container terminals to the garment industry. The aim is to increase long- term financing for infrastructure and build capacity of local financial institutions for promoting private sector-led infrastructure financing in container terminals, land ports, roads and bridges as well as power and energy, information and communication technology, waste management, water treatment and energy saving equipment.

Another part of the funding will help create 90,000 jobs by focusing beyond the readymade garment sector. It will help firms access international markets, overcome technology, infrastructure and skills shortfalls and enable those in the garment industry in Bangladesh to comply with international quality standards.

The project will help the economy integrate further into the world trading system and provide better jobs to Bangladeshi youth entering the labor market in the next decade, with a particular focus in improving female labor participation. It will help firms access international markets and enhance their ability to comply with international standards through awareness building and matching grants.

The project will also support marketing and branding efforts to strengthen linkages to existing and new markets. It will also address the shortage of skill development, especially in industrial training for women. <br/>

 
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