BSS-18 Deal signed with EU for 205m Euro for Human Capital Development





Deal signed with EU for 205m Euro for Human Capital Development

DHAKA, Feb 5, 2019 (BSS) – The European Union will provide 205.50 million Euro or approximately Taka 1,925.43 crore as grant for the Human Capital Development Programme for Bangladesh 2021 (HCDP21).

The amount comprises a budget support component with a maximum EU contribution of Euro 200 million and a complementary support component with a total estimated cost of Euro 5.5 million.

The Economic Relations Division (ERD) Secretary Monowar Ahmed and Ambassador of the European Union Rensje Teerink signed the grant agreement on behalf their respective sides at the NEC-2 Conference Room in the city’s Sher-e-Bangla Nagar area.

The programme targets education as focal sector and focuses on two specific sub-sectors: Fourth Primary Education Development Programme and Technical Vocational Education and Training (TVET).

Out of the total amount, 150 million Euro will be used for primary education while 50 million Euro for the Technical Vocational Education and Training (TVET) sector.

Under the supervision of the Ministry of Primary and Mass Education, the PEDP-4 Programme accounts for an estimated cost of Taka 38,397 crore. The EU, World Bank, ADB, JICA, DFID, UNICEF and other development partners are financing this programme.

Through this programme, the EU supports together with other development partners. Assistance from EU will be utilized in HCDP21 Programme which is aimed at expansion of education swiftly by providing quality education in primary schools and development of skilled manpower through the expansion of technical education.

The EU component will be implemented within 84 months from the date of signature of the agreement.

ERD Secretary Monowar Ahmed said, “The government of Bangladesh acknowledges the longstanding support of the EU in a sector as crucial as education. We’re looking forward to a further strengthening our solid partnership with one of our key donors in Bangladesh and together making an important contribution to reaching the SDGs by 2030.”

EU Ambassador Rensje Teerink said, “With a working population anticipated to increase by 21 million people over the next decade, continued investment in quality primary education and establishment of a sustainable TVET system is critical to enhance employment opportunities, to use the potential of the demographic dividend and contribute significantly to inclusive growth and poverty reduction.”

The main objectives of the programme include improved quality, relevance and efficiency of the primary education and TVET sub sectors, improved and equitable access to primary education and TVET services and improved management and governance of the sub-sectors.

Overall, HCDP-21 supports Bangladesh to progress towards the achievement of the 2030 Agenda and the SDGs, in particular Goal 4 on quality education.

BSS/Asg/GM/GA/1658 hrs