The signing ceremony of the Financing Agreement between The Economic Relations Division, Ministry of Finance, and The World Bank and Project Agreement between The World Bank and Social Development Foundation (SDF) of Resilience, Entrepreneurship and Livelihood Improvement (RELI) Project was held today on June 27, 2021. On behalf of The Economic Relations Division, Ministry of Finance, Hon’ble Secretary, Ms. Fatima Yasmin signed the Financing Agreement whilst Ms. Mercy Miyang Tembon, World Bank’s Country Director for Bangladesh and Bhutan was her counterpart. Likewise, Ms Tembon also signed the Project Agreement on the part of The World Bank so long as Mr. A Z M Sakhawat Hossain, Managing Director of Social Development Foundation (SDF) coequally signed per procurationem of the implementing agency. Mr. Md. Abdus Samad, Hon’ble Chairperson of SDF and former Senior Secretary was also present in the signing ceremony.
Under these agreements, The World Bank will provide USD 300 million to the Government of Bangladesh as Credit through Economic Relations Division, Ministry of Finance to implement the RELI Project scheduled to be started from July 2021 for five years where GoB will chip in USD 40 million making the total project cost USD 340 million. The Project Development Objective (PDO) of the project is ‘to improve livelihoods of the poor and extreme poor, enhance their resilience and support rural entrepreneurship in project areas.’ To predominantly address the emergency economic initiatives of the GoB to fight the COVID-19 crisis and climate-induced events, the RELI project would focus on the livelihood support for the vulnerable and support for their recovery and resilience building, employment generation, entrepreneurship development, and post-crisis economic recovery preparation in the intervening areas. The project is suitably aligned with The Bangladesh Delta Plan (BDP) 2100 and the 8th Five-Year Plan of the Government of Bangladesh.
SDF received the highest accolade of innovation from FID, MoF