Economic Relations Division (ERD) Secretary
The additional financing will help annually 4.5 million poor rural children in 215 upazilas across the country to continue secondary level education.
The credit from IDA has 40 years to maturity, including a 10-year grace period with a service charge of 0.75 percent, said a press release.
With this additional financing, the project will continue to provide poverty-targeted stipends and tuition to poor students. It will give incentives to students, teachers and schools to increase enrollment and retention in secondary level education, it said.
It will also scale up activities within 125 upazilas where the project is being implemented and expand in 90 more upazilas to improve secondary education quality and systematically monitor learning outcomes and ensure greater accountability at school level, it added.
The project will continue to benefit poor students, teachers, and school management committee as well as improve the quality of education with a special emphasis on mathematics, English language and reading habits.
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