Bangladesh clinched two World Bank credits worth $850 million on Wednesday—$650 million to overhaul Chittagong’s Bay Terminal and $200 million to strengthen social protection—aiming to cut shipping costs, spur jobs and aid 4.5 million vulnerable citizens.
The World Bank and Bangladesh have signed two concessional loan agreements totaling $850 million to boost trade capacity, spur job creation and modernise the country’s social-safety net, the lender announced on Wednesday.
$650 million for Bay Terminal Marine Infrastructure Development – The funds will finance a six-kilometre, climate-resilient breakwater and new access channels at Chittagong, enabling the port to handle larger vessels. Officials expect shorter turnaround times and lower transport costs to save the economy about $1 million a day. When finished, the terminal should process roughly 36 percent of Bangladesh’s container traffic, benefiting more than one million people and expanding opportunities for women in port operations and trade.
$200 million for social-protection reform – The Strengthening Social Protection for Improved Resilience, Inclusion and Targeting project will deliver cash transfers, skills training, micro-credit and entrepreneurship mentoring to 4.5 million vulnerable people—especially youth, women, persons with disabilities and residents of climate-affected areas. A national registry will be created to sharpen beneficiary targeting and service delivery.
Both credits come from the World Bank’s International Development Association, which has committed over $45 billion to Bangladesh since 1971. Sustaining growth, said interim country director Gayle Martin, requires generating quality jobs for the nearly two million young Bangladeshis who enter the labour market each year.
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Start your day informed with AnewZ Morning Brief: here are the top news stories for June 8th, covering the latest developments you need to know.
Presidential candidate Miguel Uribe Turbay is in critical condition after being shot three times — including twice in the head — during a campaign event in Bogotá.
Mexican President Claudia Sheinbaum has condemned U.S. immigration raids and National Guard deployment in Los Angeles, calling for reforms instead of enforcement.
A 30-year-old woman was shot by police in Munich on Saturday evening after stabbing two people at Theresienwiese, a central park best known for hosting Oktoberfest.
Israel’s military says it has identified the body of top Hamas commander Mohammed Sinwar beneath a hospital in southern Gaza.
Six people on board a small plane were killed Sunday afternoon when the aircraft crashed into the Pacific Ocean shortly after taking off from San Diego International Airport, according to the Federal Aviation Administration (FAA).
Italian efforts to ease citizenship laws and tighten labor protections failed on Monday after low voter turnout rendered the referendums invalid, marking a political win for Prime Minister Giorgia Meloni and a blow to the centre-left opposition.
Canada will reach NATO’s 2% defense spending target this fiscal year—years ahead of schedule—Prime Minister Mark Carney announced Monday, pledging billions in new military investments amid rising global security concerns.
South African authorities have confirmed the deaths of a pilot and two passengers after a light aircraft crashed on Sunday in the KwaZulu-Natal province.
The UK government is exploring new online safety measures that could impose time limits and curfews on children's use of social media apps, in response to growing concerns about digital addiction and harmful content.
Six people on board a small plane were killed Sunday afternoon when the aircraft crashed into the Pacific Ocean shortly after taking off from San Diego International Airport, according to the Federal Aviation Administration (FAA).
Italian efforts to ease citizenship laws and tighten labor protections failed on Monday after low voter turnout rendered the referendums invalid, marking a political win for Prime Minister Giorgia Meloni and a blow to the centre-left opposition.
Azerbaijan's reforms boosting women's employment were hailed at World Bank/IMF meetings. Opening 674 jobs, including train driving, these changes embody a giant leap. Samira, the first female railway driver, proves dreams are now possible.
Canada will reach NATO’s 2% defense spending target this fiscal year—years ahead of schedule—Prime Minister Mark Carney announced Monday, pledging billions in new military investments amid rising global security concerns.
Researchers at the University of Miami have discovered 230 new giant viruses in global ocean waters, shedding light on their hidden role in marine ecosystems and their potential impact on public health.
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