Bangladesh Seeks Additional $10b From World Bank

Bangladesh is in discussions with the World Bank to secure an additional $10 billion in financial assistance, Finance Minister Amir Khosru Mahmud Chowdhury said on Tuesday, stressing that no final decision has been made.

The discussions and related procedures could take several more months to complete, he said.

The finance minister made the remarks while responding to journalists after meeting the World Bank's managing director in Bangkok, Thailand.

“There is no decision being made at this stage. These are discussions, and further steps will be taken based on them. This is a process that will continue over the next few months,” he said.

He added that the talks were laying the groundwork for both sides to determine their next steps and consider possible decisions. Discussions would also continue in Dhaka.

Expressing satisfaction with the progress, Amir Khosru said the World Bank understood Bangladesh's economic policies, programmes and medium- and long-term development plans. He added that the lender supported the government's efforts to restore economic stability and address the country's current challenges.

“The economy was in crisis when the current government took office. Alongside various liabilities inherited from the previous period, we are also dealing with economic disruptions caused by ongoing wars around the world. The World Bank understands these challenges,” he said.

The minister said the World Bank was keen to support Bangladesh and was aligned with the government's policy direction, economic programmes and plans for the country's future following the restoration of stability.

He also said the two sides were discussing a framework for their future partnership. Bangladesh had submitted a written proposal, while the World Bank had provided several recommendations and suggestions. Both sides had presented their respective positions, he added.

Asked about the World Bank's and Asian Development Bank's forecasts for inflation and gross domestic product (GDP) growth, the finance minister said the government did not intend to dispute projections made by other institutions based on their own calculations and analyses.

He said the government was working to achieve the economic targets outlined in the national budget and remained hopeful of meeting its projections.