The World Bank (WB) has decided to provide $570 million to help improve the Bangaldesh's health sector and upgrade the standard of procurement for different projects under the sector.
On behalf of the bank's Dhaka office on Saturday, the approval was given from its board meeting in Washington, says a press release.
The funding will be given to two schemes taken by Bangladesh government to improve procurement standards for upgrading the quality of health, nutrition and population.
Of the total sum of money, $515 million will be given to the healthcare development projects, which, once implemented, will strengthen the sector, especially in the Sylhet and Chittagong divisions, and improve the quality of service delivery and quality.
Under the project, about 1,14,000 mothers will be provided healthcare in the two divisions, where around 5 million children will be vaccinated.
Meanwhile, the rest money will be used in 'Digitising Implementation Monitoring and Public Procurement' project.
Bangladesh spends around $7 billion in government procurement every year.
Upon implemented, the project will lead to more transparency in these purchases as about 80% of the tender will be covered under e-Government Procurement (e
The WB, Bangladesh Country Director Chimaoya Fan said:"The bank and the Bangladesh government will work jointly to implement both the health sector and the government procurement standard development projects.”
The project will help bring transparency and expedite development of health sector and government procurement, greatly helping Bangladesh become a middle-income country.