Dhaka and Stockholm have signed an agreement for reactivating Sweden International Development Cooperation (SIDC) for the development of Bangladesh.
The SIDC support to Bangladesh started after the country's independence in 1971, and approximately US$ 26 million is expected to be disbursed for Bangladesh in 2016.
The cooperation agreement is constituted on the basis of the Swedish government's newly adopted Results Strategy for Sweden International Development Cooperation with Bangladesh.
Johan Frisell, the Ambassador of Sweden in Dhaka, and Mohammad Mejbahuddin, Senior Secretary of the Economic Relations Division under the Ministry of Finance, Bangladesh signed the agreement on their respective side at the NEC 2 conference room in the city on Tuesday.
The strategy is in line with Bangladesh's own development priorities as outlined in the 7th Five Year Plan for 2016-2020.
The main objective for the strategy is to contribute to improved conditions for people to get out of poverty, support democratic development and respect for human rights, strengthen gender equality, and contribute to sustainable development.
The strategy stressed an increased focus on women and girls, marginalised geographical areas, and vulnerable groups in the society.
Gender equality, resilience, transparency, anti-corruption, and human rights should be incorporated throughout the strategy, according to Swedish Embassy in Dhaka.
The strategy includes a new area of involvement related to productive employment, decent work and social dialogue on the workplace.
The strategy encouraged the use of innovative means for cooperation and financing modalities such as an increased collaboration with the private sector and the use of government credit guarantees.