Dhaka, April 24 -- Bangladesh and the World Bank have signed two financing agreements totaling $850 million to help the country develop the Bay Terminal deep sea port and modernize the national social protection system to accelerate job creation and inclusive growth.

Two separate financing agreements were signed on Tuesday in Washington between the Economic Relations Division (ERD) of Bangladesh and the International Development Association (IDA), the World Bank's concessional arm.

ERD Secretary Shahriar Siddiky and World Bank's interim Country Director Dr. Gayle Martin signed the agreements on behalf of their respective sides, according to a World Bank press statement.

Dr Salehuddin Ahmed, Finance Adviser of the Bangladesh Government,...