Bangladesh: Second Poverty Alleviation Microfinance Project

WASHINGTON, May 30, 2007 - The following project was approved today by the World Bank’s Board of Executive Directors:

 

IDA CREDIT: US$15 million

TERMS: Grace period = 10 years; Maturity = 40 years

PROJECT DESCRIPTION: The main objective of this project is to support poor rickshaw-pullers that have been adversely affected by a ban on Non-Motorized Transport on certain roads in Dhaka, the nation’s capital. It is expected that about 40,500 of the adversely affected poor rickshaw owners, their family members, and those pullers that would like to give up rickshaw-pulling in favor of a new career, and other poor and vulnerable groups will be provided with microcredit and other services. Apart from direct microcredit loans, the borrowers will also be provided with training in technical skills to facilitate career change.

 

For more information, please call Benjamin Crow at (202) 473-5105 or email

bcrow@worldbank.org