DHAKA, April 30, 2020 (BSS) – The European Union (EU) today disbursed
nearly Tala 230 crore (EUR 24 million) to Bangladesh for supporting the
country’s key national reforms in social security.
With this grant, the EU recognizes and supports Bangladesh government’s
commitment to the eradication of poverty and extreme inequalities as well as
to achieve the Sustainable Development Goals, a press release said here
today.
Effective and inclusive social protection systems are essential to
safeguarding people in need when a crisis hits, such as the ongoing Covid-19
pandemic emergency, it said.
In this regard, the EU ambassador to Bangladesh Rensje Teerink said the
Covid-19 pandemic has created a public health emergency with immediate and
long-term economic consequences for millions of Bangladeshis who are at a
heightened risk of being pushed into poverty or extreme poverty.
“Ensuring a safety net for all is critical to mitigate these impacts. The
EU stands ready to join forces with the Government of Bangladesh and
development partners to enhance the preparedness of the national social
protection system,” she said.
Social protection lies at the heart of the European social model and
represents a fundamental area of cooperation in Bangladesh, the EU envoy
observed
This is the first disbursement under the EU sector budget support programme
on National Social Security Strategy (NSSS) reforms in Bangladesh, signed in
June 2019.
The disbursement of this first payment comes after a positive decision of
the Budget Support Steering Committee of the European Commission’s
Directorate-General for International Cooperation and Development in April
2020.
The NSSS sets an important roadmap to enhance the governance, institutional
capacity and accountability of the social security system to better serve the
needs of Bangladeshis who are living in poverty or are vulnerable.
The programme of support to NSSS reforms intends to provide a total of EUR
130 million as budget support linked to jointly-agreed performance
indicators.