WASHINGTON, June 19, 2020- The World Bank’s Board of Executive Directors today approved financing for the following project:
Private Investment and Digital Entrepreneurship (PRIDE) Project
IDA: $500 million (Scale Up Facility)
Project ID: P170688
Maturity: 34 years Grace Period: 4 years
Project Description: The project aims to promote private investment, job creation, and environmental sustainability in participating economic zones and software technology parks in Bangladesh. The project will also create 150,000 jobs, establish Dhaka’s first digital entrepreneurship hub, and by attracting domestic and foreign private investment, the project will help the economy rebound from the impacts of COVID-19.