Bangladesh will receive Tk 560 crore from the Asian Development Bank (ADB) for improvement in quality of secondary school teachers. ADB and the Government of Bangladesh on Tuesday signed an agreement for US $70 million equivalent to Tk 560 crore in loan. Senior Secretary of Economic Relations Division (ERD) Iqbal Mahmood, and Country Director of ADB’s Bangladesh Resident Mission, M. Teresa Kho, signed the agreement on behalf of Bangladesh and ADB respectively, at a ceremony at ERD, Sher-e-Bangla Nagar, Dhaka.
Iqbal Mahmood said, the assistance will improve the overall quality of education in Bangladesh under the Second Teaching Quality Improvement in Secondary Education Project.
He further said the project focuses on improvement of teacher competencies, enhancement of the learning environment, and advancement of student performance, particularly in science, mathematics, and English language.
The project follows the first phase of the about-to-be completed Teaching Quality Improvement in Secondary Education Project, which instituted significant reforms in teacher education in Bangladesh, ERD senior secretary added.
“Education is one of the significant pillars of development. This project will strengthen teaching methodology and help deliver quality education that will prepare Bangladeshi students for the competitive job market or even to pursue further education,” said M. Teresa Kho.
While Bangladesh has made significant progress in providing access to secondary education, and has achieved gender parity up to grade 10, the quality of education needs further improvement.
Many schools, particularly in disadvantaged locations, need to improve performance and accountability while many secondary school graduates need better preparation to enter the workforce in higher job categories or continue to tertiary education. The Second Teaching Quality Improvement in Secondary Education Project will address these issues.
The loan of $70 million comes from ADB’s concessional Asian Development Fund and has a 32-year tenor, including a grace period of 8 years, with an interest charge of 1%, rising to 1.5% for the balance of the term. The government will also contribute $15 million equivalent.
The Ministry of Education will be the executing agency while the Directorate of Secondary and Higher Education will implement the project, which is expected to be completed in 2017.
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members – 48 from the region.