WB approves $210m for early childhood dev

The World Bank has approved US $210 million for a project to improve early childhood development in Bangladesh, according to a press release.

The Bangladesh Enhancing Investments and Benefits for Early Years (BEIBEY) project aims at providing cash transfers and counseling services to improve nutrition -- directly benefitting 1.7 million pregnant women and mothers of children under the age of four, in vulnerable households.

Abdoulaye Seck, country director of World Bank Bangladesh and Bhutan, said, "Under current education and health systems, a child born today in Bangladesh would only be 46 percent as productive as they could potentially be."

"Ensuring adequate nutrition prenatally in the first 1,000 days of life and responsive caregiving throughout childhood help maximise a child's development," he added.

Aneeka Rahman, senior social protection economist and team leader of the project, said, "Supporting children from the earliest stages can greatly boost Bangladesh's economic and demographic potential. Investing early in a child's life, especially during their crucial developmental years, can lead to significant benefits for the entire nation."

The project is financed by WB's International Development Association that provides concessional financing and has a 30-year term with five-year grace period.