WASHINGTON, July 31, 2020- The World Bank’s Board of Executive Directors today approved financing for the following project:
IDA: $202 million
Project ID: P120583
Terms: Maturity: 30 years Grace Period: 5 years
Project Description: The objective of the additional financing for the Modern Food Storage Facilities Project is to increase the grain reserve available to households to meet their post-disaster needs and improve the efficiency of grain storage management. The project will help to increase the storage capacity of Bangladesh’s national strategic grain reserves by 535,500 tons for 4.5 million households. It will support construction of rice silos in Dhaka, Narayanganj and Barishal, and wheat silos will be built in Chattogram and Maheshwarpasha. The project will also create new job opportunities for the operation and management of silos.