Dhaka, 20 May 2020
Team Europe is mobilising over € 334 million (around BDT 31 billion) for the fight against Covid-19 and its consequences in Bangladesh
COVID-19 knows no borders. Therefore, the European Union (EU), its Member States and the European financial institutions, decided to join forces as Team Europe (#TeamEurope) to tackle the pandemic. As a result, a global EU response of EUR 20 billion was launched to help mitigate the spread of the virus and to reduce spill over effects on economic and social stability in partner countries.
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 (e.g. in food security, private sector development, WASH). On top of that, the EU is pleased to announce that EUR 334 million have been allocated to help fight the pandemic and that more funds may be mobilised in the near future. In particular,
At the global level, #TeamEurope has joined forces with other multilateral partners and IFIs (Word Bank, IMF, 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.
“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,” said the Ambassador of the EU, Rensje Teerink. “#TeamEurope trusts that all Bangladeshis, and in particular millions of the most affected people, will benefit from these interventions. #TeamEurope is the tangible expression of the exceptional European efforts to lead the fight against COVID-19 and to express our global solidarity.”
#TeamEurope’s response is about combining the collective development resources of the EU, its Member States and their respective financial institutions and implementing agencies, in particular the European Investment Bank, as well as the European Bank for Reconstruction and Development.
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Senior Programme Officer
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