World Bank pledges additional support of $2 billion for Bangladesh

The World Bank on Tuesday said it could mobilise an additional USD 2 billion in financing to Bangladesh in this fiscal year to support critical reforms, flood response, better air quality and health.

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World Bank Country Director Abdoulaye Seck pledged the assistance when he called on interim government’s Chief Adviser Muhammad Yunus at the State Guest House Jamuna in Dhaka on Tuesday. He said the World Bank was committed to increasing lending to Bangladesh in this fiscal year to help the reform agenda of the interim government.

His remarks came days after the US Agency for International Development-Bangladesh on Sunday said it would provide USD 202.25 million in aid to Bangladesh.

During the meeting, Yunus told the World Bank official that the bank must have flexibility to fund Bangladesh’s reforms and help restart a new journey after 15 years of “extreme misgovernance.”

Pak promised $2 bn ADB Loan annually

Islamabad: The Asian Development Bank (ADB) has assured Pakistan that it would provide $2 billion annually in new loans to the cash-strapped country from 2024 to 2027, a four-year package of $8 billion, the Ministry of Economic Affairs officials said. PTI