Corona Fallout

Team Europe mobilises €334m for Bangladesh

Diplomatic Correspondent

21 May, 2020 12:00 AM printer

Team Europe is mobilising over 334 million euros for overcoming impact of coronavirus in Bangladesh, says a press release.

European Union (EU), its member states and the European financial institutions have decided to join the forces termed as Team Europe.

In its ongoing development programmes in Bangladesh, the EU is already addressing many areas like food security and private sector development.

On top of that, the EU is pleased to announce that EUR 334 million have been allocated to help fight the pandemic and that more funds may be mobilised in the near future.

In particular, EUR 263 million to mitigate the economic and social impact of COVID-19, reads the press release. 

Of this, a EUR 93 million EU grant plus a EUR 20 million 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 EUR 150 million to improve the country’s social protection measures.

EUR 64.8 million,EUR 16.5 million from the EU plus EUR 48.3 million from Germany, will be used to scale up interventions through the United Nations and NGO partners for vulnerable Bangladeshi host communities and Rohingya in Cox’s Bazar.

EUR 5.5 million aims at strengthening Bangladesh’s research and health systems as follows: an EU grant of nearly EUR 3 million to the World Health Organization for the Government Preparedness and Response Plan.