BD, KOICA sign $13m grant deal for AI tech experts

Bangladesh and the Korea International Cooperation Agency (KOICA) on Tuesday signed a US$13 million grant agreement to develop innovative technology experts with a focus on artificial intelligence (AI) in Bangladesh.

The Record of Discussion (RoD) and Terms of Reference (TOR) for the project titled "Fostering Innovative Technology Experts with a Focus on Artificial Intelligence (AI) in Bangladesh" were signed at a ceremony in the capital.

The project will be implemented by the Bangladesh Hi-Tech Park Authority under the Information and Communication Technology (ICT) Division, with KOICA providing the $13 million grant.

The project, to be implemented from 2026 to 2029, aims to build a strong foundation of AI knowledge and skills among Bangladeshi technology professionals to meet the growing demands of the rapidly evolving global IT industry.

It will promote innovation by strengthening collaboration between industry and academia and enabling technology professionals to apply advanced technologies to real-world problems, according to a press release issued by the Economic Relations Division (ERD).

The initiative will also encourage the application of AI-based solutions to address local and national challenges, contributing to Bangladesh's sustainable economic growth, according to BSS report. 

ERD Secretary MdShahriar Kader Siddiky and ICT Division Secretary MdMamunur Rashid Bhuiyan attended the signing ceremony along with senior officials from Bangladesh and KOICA.

MasumaAkter, Additional Secretary and Wing Chief (Asia, JEC and F&F) of ERD, signed the RoD and TOR on behalf of the Government of Bangladesh, while KOICA Country Director Jihoon Kim signed on behalf of the South Korean agency.