The fund will be spent under the supervision of the University Grants Commission
The Asian Development Bank (ADB) is willing to pay Bangladesh $540 million in loan for human resources development.
Sangsup Ra, director of the Social and Human Development Division at the Manila-based development lender, placed the proposal at a meeting with the University Grants Commission (UGC) on Tuesday.
"We are interested in allocating $540 million so that Bangladesh could develop its human resources," he said at the meeting held at the UGC office in Dhaka.
"Of the allocation, $100 million will be given in the arenas of computer and software engineering, $150 million for developing agriculture, $190 million for building digital universities, and $100 million for improving readymade garments and textile sector."
The ADB official expressed his hope that the Bangladesh government would utilise the fund in a right way under the supervision of the higher education regulator.
Contacted, UGC Chairman Professor Kazi Shahidullah said, "It is an excellent proposal. We will be able to ensure quality higher education, create employment opportunities and develop human resources in the country if the proposal is passed."
"The higher education has expanded in the last one decade. Now it is high time to ensure its quality."
"But we are still suffering from fund crisis. The ADB is keen to give us the money as soft loan. It is definitely positive for us," he added.
UGC members Professor Dil Aforoza Begum, Professor Dr Sazzad Hossain and Professor Dr Alamgir, among others, were present at the meeting.