Bank loan to Bangladesh 4 secondary education

Bank loan to Bangladesh

$130 million US dollars will go to Bangladesh to improve secondary education in the country. - Kale The credit from the International Development Association (IDA), the World Bank's concessionary arm, has 40 years to maturity with a 10-year grace period and it carries a service charge of 0.75 percent, said a World Bank press release.The 'Secondary Education Quality and Access Enhancement Project' will finance activities in 121 Upazilas aimed at improving education quality and poverty-targeted stipends and tuition to girls and boys to increase access and retention.Although Bangladesh has recorded impressive achievements in the education sector significant challenges remain. Completion rate at the secondary level is as low as 20 percent and many poor children, especially boys, are still left out of the secondary school system, the press release added.Female enrollment in the secondary schools increased from 1.1 million in 1991 to 4.4 million in 2006 after an innovative World Bank financed initiative 'Female Secondary School Assistance Project' was launched in 1993, it said.Schools and families received cash incentives under this project to keep girls in secondary school through completion."Achievement of high quality secondary education is a critical foundation for higher levels of education and skills which are likely to have a significant impact on economic development", said World Bank Country Director for Bangladesh, Xian Zhu."This project will ensure that poor children are not left out of the secondary school system. Importantly, it will also enhance secondary teacher and student performance, as well as in making schools more accountable to the community

Banks make provision for bad-debts

The top banks in South Africa are increasing their provision for bad debts because of more people failing to keep up with home loan repayments, caused by the high interest rates and increasing inflation.
Absa, Nedbank, Standard Bank and First National bank all confirmed that they were preparing for an increase in bad debts and doing everything to ensure consideration of repossession of property as a last option