EU contributes 45 million euros to strengthen Bangladesh's social protection system

EU contributes 45 million euros to strengthen Bangladesh's social protection system

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EU Ambassador Charles Whiteley said, “I commend the Bangladesh Government’s efforts to enhance its social protection system, and emphasise its importance within the Team Europe Initiative (TEI) on Decent Work, co-chaired by the EU, Denmark and the Netherlands. Over the past three years, the EU and Member States have implemented more than 40 active programmes in decent work, social protection and technical and vocational education and training (TVET) in Bangladesh, with a total amount of over 500 million euros. In particular, the EU, Denmark, Sweden and the Netherlands are collectively funding the new flagship programme ‘Advancing Decent Work in Bangladesh’ with a budget of 23 million euros, which aims to accelerate labour reforms in line with international standards. This effort is crucial for Bangladesh’s future application of the Generalised Scheme of Preferences Plus (GSP+) and maintaining duty-free access to the EU market beyond 2029.”

The Team Europe approach contributes to the EU's Global Gateway initiative, which strengthens engagement with global partners for development and sustainability. The Ambassador said Bangladesh's strategic position in South Asia, combined with its economic growth and vibrant society, positions it as a key partner in promoting sustainable development in the region.

The Ambassador also underlined that “In the challenging global economic context, the fight against poverty and inequality has become paramount. Social protection is a powerful tool in this fight, protecting the most vulnerable segments of society. It is essential that investments in social protection not only remain stable but also be increased. The EU reaffirms its commitment to support Bangladesh in this endeavour and to leave no one behind.”

The disbursement of this payment takes place in May 2024 following a positive decision by the Budget Support Steering Committee of the European Commission’s Directorate-General for International Partnerships.

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