The Asian Development Bank (ADB) will help Bangladesh and nine other Asian countries to ensure quality education for the out-of-school and at-risk children in the primary level.
In its preliminary effort, the Manila-based lender had signed a US$ 100 million loan deal with a Qatar-based foundation Education Above All (EAA) on Thursday at a special side event to the United Nations High Level Political Forum 2020 in New York, USA.
Director General of ADB’s Strategy, Policy, and Partnerships Department Tomoyuki Kimura and EAA Foundation Chief Executive Officer Fahad al Sulaiti signed the agreement, Manila-based lender said in a statement.
After signing the deal, Mr Kimura said the ADB and EAA would implement projects in up to 10 countries to ensure that at least 320,000 out-of-school children, including refugees and internally displaced children, realise their right to a quality primary education.
The 10 countries initially selected for projects are: Afghanistan, Bangladesh, India, Indonesia, Myanmar, Nepal, Pakistan, Papua New Guinea, Philippines, and Sri Lanka.
The two organisations will make available financing options for specific projects on the basis of joint co-financing administered by ADB or parallel co-financing where they will separately administer their funds in accordance with their own policies and procedures.