$40m WB credit for repatriation from Libya
The World Bank (WB) has approved US $40 million credit for repatriation of Bangladeshi migrant workers escaping the ongoing conflict in Libya.
The fund is a part of the US $74.1 million project to bring back and repatriate Bangladeshi workers from the troubled African country, says A WB release.
Another US $29.5 million comes from different donors through the International Organisation for Migration (IOM), which will implement the project on behalf of the government. The government contribution to the project stands at US $4.6 million.
The credits from the International Development Association (IDA), the WB's concessionary lending arm, carry a maturity of 40 years with a 10-year grace period and a 0.75 percent service fee.
An estimated 70,000-80,000 Bangladeshis were working in Libya before the crisis., of which about 34,000 have returned due to security concerns.
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