World Bank has approved a USD 1.25 billion loan for three new projects

Current Context: The financing was approved after the meeting of the Bank to discuss a new Country Partnership Framework (CPF) for Bangladesh (2023-27) on Friday. The CPF will support Bangladesh’s goal to achieve upper-middle-income country status by 2031 by helping the country address key barriers to higher and sustainable growth.

• It will help develop a diversified and competitive private sector to create more and better jobs; promote socio economic inclusion to expand opportunities for all; and address climate and environmental vulnerabilities.

The three new projects are:

• Program on Agricultural and Rural Transformation for Nutrition, Entrepreneurship, and Resilience (PARTNER) project: This project will help promote diversification, food safety, entrepreneurship, and climate resilience in the agri-food systems.
• First Green and Climate Resilient Development Credit: This project will help the country’s transition to green and climate-resilient development.
• Sustainable Microenterprise and Resilient Transformation (SMART) project: This project will help transform the micro-enterprise sector into a more dynamic, less-polluting, resource-efficient, and climate-resilient growth sector.

Question:

Q.1 How much financing did the World Bank approve for the three new projects in Bangladesh? 

a. USD 1.25 billion

b. USD 1.5 billion
c. USD 2 billion
d. USD 2.5 billion