Asia-Europe Meeting (ASEM)

The European Union contributes to strengthen social security in Bangladesh with EUR 24 million

Dhaka, 30/04/2020 - 12:11, UNIQUE ID: 200430_78
Press releases

Dhaka, 30 April 2020

 

The European Union contributes to strengthen social security in Bangladesh with EUR 24 million

Today, the European Union (EU) transferred EUR 24 million (230 Crore Taka) to the Government of Bangladesh to support key national reforms in social security. With this grant, the EU recognizes and supports the Government’s commitment to the eradication of poverty and extreme inequalities, and its commitment to achieve the Sustainable Development Goals.

This is the first disbursement under the EU sector budget support programme on National Social Security Strategy (NSSS) reforms in Bangladesh, signed in June 2019. The NSSS sets an important roadmap to enhance the governance, institutional capacity and accountability of the social security system to better serve the needs of Bangladeshis who are living in poverty or are vulnerable. Effective and inclusive social protection systems are essential to safeguarding people in need when a crisis hits, such as the ongoing Covid-19 emergency.

"Social protection lies at the heart of the European social model and represents a fundamental area of cooperation in Bangladesh”, said the Ambassador of the EU, Rensje Teerink. "The Covid-19 pandemic has created a public health emergency with immediate and long-term economic consequences for millions of Bangladeshis who are at a heightened risk of being pushed into poverty or extreme poverty. Ensuring a safety net for all is critical to mitigate these impacts. The EU stands ready to join forces with the Government of Bangladesh and development partners to enhance the preparedness of the national social protection system,” she added.

The programme of support to NSSS reforms intends to provide a total of EUR 130 million as budget support linked to jointly-agreed performance indicators. The programme addresses core elements of system strengthening and policy development. Technical assistance is also available to support the cluster of institutions responsible to coordinate and deliver NSSS reforms.

The disbursement of this first payment comes after a positive decision of the Budget Support Steering Committee of the European Commission's Directorate-General for International Cooperation and Development in April 2020.

For more information please contact:

Manfred Fernholz

Team leader, Food and Nutrition Security &

Sustainable Development

EU Delegation, Dhaka

Manfred.Fernholz@eeas.europa.eu

Editorial Sections: