The European Union (EU) has pledged EUR334m (US$371m) to help the government of Bangladesh fight the Covid-19 pandemic, and in particular, provide cash assistance to its export workers.
A global EU response of EUR20bn has recently been launched to help mitigate the spread of the virus and to reduce spill over effects on economic and social stability in partner countries. Bangladesh will benefit from EUR334m, with more funds earmarked for potential mobilisation in the near future.
Go deeper with GlobalData
EUR263m will be allocated to mitigate the economic and social impact of Covid-19. Of this, a EUR93m EU grant plus a EUR20m German grant will help the government to provide cash assistance to workers in the export-oriented industries adversely affected by the economic fallout of the pandemic, and contribute to boost the resilience of the national social protection system. In addition, the French Development Agency – Agence Française de Développement – (AFD) will support the Bangladesh government with EUR150m to improve the country’s social protection measures.
Around EUR64.8m (EUR16.5m from the EU plus EUR48.3m from Germany) will be used to scale up interventions through the United Nations (UN) and NGO partners for vulnerable Bangladeshi host communities and Rohingya in Cox’s Bazar while EUR 5.5m aims at strengthening Bangladesh’s research and health systems.
Another grant of EUR714,383 out of which 618,383 from the EU and EUR 96,000 from Germany will address the urgent needs of ultra-poor and vulnerable people in the urban areas of Dhaka and rural areas in the country. This contribution will support direct cash transfers to vulnerable households and awareness campaigns to reduce the spread of the virus.
See Also:
“Covid-19 knows no borders and hits the most vulnerable hardest,” said the ambassador of the EU, Rensje Teerink. “Team Europe’s support of some EUR334m will assist the Government of Bangladesh in providing support to those who are most affected by Covid-19, in terms of health and livelihoods.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“TeamEurope trusts that all Bangladeshis, and in particular millions of the most affected people, will benefit from these interventions. TeamEurope is the tangible expression of the exceptional European efforts to lead the fight against Covid-19 and to express our global solidarity.”
TeamEurope’s response is about combining the collective development resources of the EU, its member states and their respective financial institutions and implementing agencies, in particular the European Investment Bank, as well as the European Bank for Reconstruction and Development.
