The Asian Development Bank (ADB) has approved 120 million U.S. dollars in additional funding for a government-led program to improve the quality and reach of primary education in Bangladesh.

The government of Bangladesh will provide the remaining 1.7 billion U.S. dollars for the country's Third Primary Education Development Program launched in 2011, said the Manila-based lender on Sunday.

The additional funds are expected to raise key performance indicators relating to student achievement, access and efficiency in Bangladesh, which has one of the largest primary school systems in the world with over 19.5 million children enrolled in about 106, 000 primary schools.

A mid-term review noted the project has increased enrollment and reduced dropout rates across the country, but this trend is lower among disadvantaged groups such as children from small ethnic communities, children living in slums, and children living with disabilities.

"Although the program has helped Bangladesh make considerable progress on meeting its education targets enshrined in Millennium Development Goals 2 and 3, much work remains to be done," said ADB Senior Social Sector Specialist Rudi Van Dael.

"This additional funding will help deepen ongoing reforms, scale up successful project interventions, and complete already scaled-up activities."