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Bangladesh to Receive $1.1B from ADB, WB by December
The World Bank(WB) & Asian Development Bank(ADB)
Bangladesh is set to receive a total of $1.1 billion in loan assistance from the Asian Development Bank (ADB) and the World Bank by December 2024, Finance Secretary Dr. Md Khairuzzaman Mozumder announced on Tuesday.
Speaking at a press conference marking the interim government’s 100-day milestone, Dr. Mozumder revealed that the ADB will provide $600 million, while the World Bank will contribute $500 million. These funds, he said, were the result of successful negotiations and favorable policy measures implemented by the interim administration.
"Our interim government's policy actions have yielded better-than-expected outcomes in terms of securing funding," Dr. Mozumder said. "We successfully negotiated a $600 million loan with ADB, and the World Bank’s loan, originally set at $250 million and $300 million, has now been doubled to $500 million."
Dr. Mozumder also mentioned that the government has requested an additional $1 billion in support from the International Monetary Fund (IMF), with discussions expected to conclude during an IMF mission visit on December 4.
The Finance Secretary expressed confidence that Bangladesh's ongoing policy efforts would continue to attract international financial support, ensuring the country’s economic stability.
The press conference was chaired by Finance Adviser Salehuddin Ahmed and attended by key officials, including Nazma Mubarak, Secretary of the Financial Institutions Division, Md. Shahriar Kader Siddiky, Secretary of the Economic Relations Division (ERD), and Md. Abdur Rahman Khan, Chairman of the National Board of Revenue (NBR).