ZCZC
BSS-40
EU-SUPPORT-COVID
Europe allocates 334 million euro for Bangladesh to fight Covid-19
DHAKA, May 20, 2020 (BSS) – The European Union (EU) has decided to
provide more 334 million euro (around Tk 31 billion) to Bangladesh for
helping the country in its fight against COVID-19 pandemic under its
“Team Europe” initiative.
“In its ongoing development cooperation programmes in Bangladesh,
the EU is already addressing many areas crucial in the COVID-response
and the recovery of the economy but on top of that, the EU is pleased
to announce this additional fund to help fight the pandemic and that
more funds may be mobilised in the near future,” a press release
issued by EU Bangladesh office said here today.
Of the fund, it said, 263 million euro will be allocated to
Bangladesh government to mitigate the economic and social impact of
COVID-19 while 64.8 million euro will be used to scale up
interventions through the United Nations (UN) and NGO partners for
vulnerable Bangladeshi host communities and Rohingya in Cox’s Bazar.
Besides, 5.5 million euro aims at strengthening Bangladesh’s
research and health systems while 714,383 euro will address the urgent
needs of ultra-poor and vulnerable people in the urban areas of Dhaka
and rural areas in the country.
“COVID-19 knows no borders and hits the most vulnerable hardest.
Team Europe’s support of some EUR 334 million will assist the
Government of Bangladesh in providing support to those who are most
affected by COVID-19, in terms of health and livelihoods,” the release
said quoting EU Ambassador to Bangladesh Rensje Teerink.”
At the global level, Team Europe has joined forces with other
multilateral partners and IFIs that includes Word Bank, IMF and ADB by
contributing 22% of the USD 88 billion global response against
COVID-19.
Bangladesh will also benefit from the funds that the EU and its
member states have made available to its multilateral partners to
tackle the pandemic, said the release.
The EU, its Member States and the European financial institutions,
decided to join forces as “#Team Europe” to tackle the pandemic and
pledged to disburse 20 billion euro to help mitigate the spread of the
virus and to reduce spillover effects on economic and social stability
in partner countries across the globe.
BSS/PR/TA/MRU/1926hrs