The World Bank on Wednesday (August 30, 2023) approved $200 million to help Bangladesh improve primary healthcare services for treatment, prevention and referral for common illnesses including mosquito-borne diseases like dengue, and medical waste management in Dhaka North and South City Corporations, Chattogram City Corporation, and Savar and Tarabo municipalities. The Urban Health, Nutrition and Population Project will establish a network of primary health centers offering a broad range of health, nutrition, and population services along with a direct referral system with secondary and tertiary-level facilities. About 2.5 million children under five in these urban areas will receive services, according to a release from the WB. Read : World Bank’s cooperation sought to build power transmission lines from Nepal to Bangladesh The credit is from the World Bank’s International Development Association (IDA), which provides concessional financing, and has a 30-year term with a five-year grace period. The project will improve antenatal services for women, with a target of over 250,000 women receiving at least four checkups during pregnancy. It will also support hypertension screening and follow-up of about 1.3 million adults. To reduce out-of-pocket expenditure on medical care for the poor people, the project will renovate selected existing public health facilities, including government outdoor dispensaries, and family planning clinics. The project will also focus on environmental health and preventive services like mosquito control, medical waste management, and behavior change communication to promote healthy lifestyles to prevent illnesses and mitigate the effects of climate change and air pollution on human health. Read : Govt, World Bank ink $300 million financing deal for skill development, employment of rural youths It will support the development and implementation of a multi-sectoral strategy to manage infectious disease outbreaks in cities and municipalities. To prevent dengue, the project will introduce a climate-based dengue early warning system and outbreak response capacities as well as take measures to clear breeding sites. Abdoulaye Seck, World Bank Country Director for Bangladesh and Bhutan, said that Bangladesh has made remarkable progress in improving healthcare, particularly in rural areas. “But urban areas have limited public healthcare facilities. Hence, poor people and slum dwellers are often forced to turn to more expensive private healthcare. Further, with high population density, climate change, and rapid urbanization, new health challenges are emerging, including an increase of dengue cases, infectious and non-communicable diseases," he said. Read : Dengue: 7 more die, 2367 hospitalised in 24hrs Iffat Mahmud, Senior Operations Officer at the World Bank and Task Team Leader for the Project, said that the impact of climate change on mosquito-borne and infectious diseases is often overlooked. An overreliance on fogging or spraying targeting adult mosquitoes and untargeted larval control is not an efficient use of resources. “As mosquito lifecycle is influenced by climatic conditions, the project will strengthen the mosquito control laboratory and build capacities to implement innovative mosquito control measures and other community-based interventions,” the World Bank official said.

There are many examples around us where the dream of becoming an entrepreneur is shattered due to a lack of capital despite all the wonderful ideas. While the first-world countries have all the opportunities and support to launch a startup, Bangladesh doesn't have a favorable condition to begin a startup. However, still, some enthusiastic minds took their step and became successful. To accelerate their initiative, government-owned Venture Capital Company Startup Bangladesh Limited started their journey. The Journey of Startup Bangladesh LTD The cabinet has approved a state-owned venture capital company called Startup Bangladesh Limited in August 2019. According to the government's Information and Communication Technology Divisions (ICT), the Prime Minister gave policy approval to the company at a regular meeting. Once the company is established, it will be able to invest a maximum of Tk. 1 crore in the seed stage and a maximum of Tk. 5 crores in the growth-guided startup round in terms of startup valuation. Read: The Emerging Logistics Tech Startups, Courier, Delivery Services in Bangladesh According to a written statement from the Department of Information and Communication Technology, Startup Bangladesh Limited will play a key role in creating a sustainable startup ecosystem in Bangladesh as the first state-owned venture capital company and will take the government's vision-2021 one step further. The aim of the company is to encourage foreign direct investment in the country by transforming the innovative ideas of startups in Bangladesh into business, as well as to eliminate unemployment, create employment and economic development for the country as a whole. ICT Minister Zunaid Ahmed Polok mentioned in the cabinet meeting that the company needs to be formed to provide funding, mentoring, co-working space, legal aid, etc., to startups. In 2019-2020 budget, the government had allocated Tk. 100 crore for the startup sector. The journey started with the capital of Tk. 500 crore. This year, startup Bangladesh Limited will provide Tk 100 crore to 50 entrepreneurs. The funds will be spent on creating young entrepreneurs, innovating technologies, advances, new workplaces, and socioeconomic change. Read: Digital Healthcare Startups in Bangladesh: An Overview The announcement came at the signing ceremony of an agreement to celebrate the 50th anniversary of independence as well as the first series of startups to invest in Bangladesh. With this, the new campaign titled 'ShotoBorshe Shoto Asha' of Startup Bangladesh Limited officially started its journey on March 31, 2021. The campaign was officially announced by ICT minister Zunaid Ahmed Palak. Deputy Minister for Education Mohibul Hasan Chowdhury was the special guest. The company gave Tk. 15 crores to 7 Bangladeshi startups this year. The seven companies are Pathao Limited, Sheba XYZ, Chaldal.com, Intelligence Machine, Dhaka Cast, Eduhive, and Moner Bondhu. This fund will enable them to improve the quality of their products or services, increase productivity, market and improve supply-chain management. This time Startup Bangladesh Limited is investing only in established and successful ventures. But the company will also invest in the new entrants too, especially the students. Students need to be introduced to such startups; then they will be able to do something on their own without running after the job. Read Angel Investment 101: Is It the Right Track for Your Startup? Seven Bangladeshi Startups to Get Investments from Startup Bangladesh LTD Following are the details of the 7 Bangladeshi who are getting Tk.15 crore. Pathao Bangladeshi ride-sharing company Pathao is going to get more investment and this time from the government-owned venture capital company. However, the exact amount is not published yet, but they will get a significant amount for sure. This is not the first time that Pathao received an investment. Previously the company raised investment from the secondary market in 2018 from Clearstone. Earlier, Gojek, an Indonesian ride-sharing company, made a big investment in Pathao. Gojek invested $2 million in 2017. In 2015, Pathao started its journey as a courier service and later brought ride-sharing services through the mobile app. At first, bikes were added, and then car or car services were added. After receiving the investment, the company adds food delivery and payment services to their services. But Pathao Pay as a payment service was stopped later as it did not get approval from Bangladesh Bank. Pathao has expanded its ride-sharing service to Dhaka, Chittagong, and Sylhet in the country. It has also launched a ride-sharing service in Nepal. Read:The 7 Most Promising Tech Startups in Bangladesh Sheba XYZ Seva XYZ is an online service-based marketplace in Bangladesh. There are many services in the service app, including air conditioning service, electric and home appliance, plumbing and sanitary, furniture making and repair, wall painting, house cleaning. The organization has worked on a personal and small scale for so many days. Recently, they have started providing services to the corporate sector by increasing the scope of their activities. Sheba XYZ got funding from Startup Bangladesh Limited. Nevertheless, the company also raised an overall $1 million previously. The company needed at least two million more dollars to run the operations at home and abroad. Hence, the investment from the government-owned venture capital company will surely boost Sheba XYZ to expand its business. Read The SWAP story of Bangladesh's first reCommerce startup

The World Bank and the government of Bangladesh on Thursday signed a $250 million financing agreement to help Bangladesh create more and better jobs, recover faster from the COVID 19 pandemic and build resilience to future crises. The agreements were signed by Economic Relations Division secretary Fatima Yasmin and World Bank Country Director for Bangladesh and Bhutan Mercy Tembon on behalf of the Government and the World Bank, respectively. The Third Programmatic Jobs Development Policy—the last in a series of three credits—focuses on key reforms to create quality and inclusive jobs, while supporting the government’s response to the COVID-19 crisis. Also read: WB okays $250 million for Bangladesh to respond to COVID ... It supports policies to modernize the trade and investment regime; improve social protection for workers; and help youth, women, and vulnerable people access quality jobs. The credit is from the World Bank’s International Development Association (IDA), which provides concessional financing, has a 30-year term, including a five-year grace period. “The COVID-19 pandemic has had a disproportionate impact on the poor and vulnerable population,” said Mercy Tembon. Read Bangladesh inks over $1 b deal with World Bank for responding to COVID-19 pandemic He said that this financing supports government policies to protect those most affected by the pandemic and create more and better jobs as Bangladesh continues its journey towards its vision of becoming an upper-middle income country. The pace of job creation has slowed in recent years, and the COVID-19 pandemic has exacerbated the situation. The Jobs Development Policy Credit series has helped the government protect 5 million jobs, and enabled firms to continue paying their workers’ wages. Also read: World Bank prediction on Bangladesh economy inconsistent ... Losses in jobs and income put livelihoods of several million at risk in both rural and urban areas. Women and youth have been particularly hard hit. It also supported the migrant workers who have had to return to Bangladesh due to the pandemic. The program will also support informal micro-entrepreneurs in recovering by extending micro-finance facilities. “The government has taken fast and proactive measures to protect the poor and vulnerable population and to mitigate the adverse impact of the COVID-19 pandemic on formal and informal businesses,” said ERD secretary Fatima Yasmin. Read WB approves $500 mn to help Bangladesh vaccinate 54 mn people The program has already resulted in reducing costs of starting a business; making the skills development sector more labor-market relevant; strengthening labor regulations for improved working conditions; and promoting quality daycare to enable more women to join the labor force, according to the press release. With this program, total World Bank financing under the Programmatic Jobs Development Policy Credit series stands at $750 million. Bangladesh currently has the largest ongoing IDA program totaling over $14 billion. Read WB approves $200 million to help Dhaka support urban poor, migrants