The World Bank has approved USD 600 million for two projects in Bangladesh to help over 1.75 million poor and vulnerable people, The Daily Star reported.

The projects will support youths, women, disadvantaged groups, and returnee migrant workers to improve employability and livelihood opportunities, and build their resilience against future shocks like the Covid 19 pandemic, according to a World Bank media release.

The USD 300 million Accelerating and Strengthening Skills for Economic Transformation (ASSET) Project will equip more than one million youths and workers with skills needed for the future.

The project will connect youths, women and disadvantaged groups, including people with disabilities with the labor market by making them skilful.
 
It will also support industries to retrain their workers during and after the pandemic and thus accelerate recovery.

The USD 300 million Resilience, Entrepreneurship and Livelihood Improvement (RELI) Project will help improve the livelihoods of about 750,000 poor and vulnerable rural people across 3,200 villages in 20 districts.
 
Both the projects have a maturity of 30 years, including a grace period of  five years, the release said.

"In Bangladesh, the Covid-19 pandemic has affected the livelihoods of thousands of people, particularly female workers, youths, and returnee migrant workers," acting World Bank country director for Bangladesh and Bhutan Dandan Chen said.

(SAM)