World Bank To Provide US$3.5 Bln To Support Bangladesh Reforms

NEW YORK, Sept 26 (Bernama-BSS) -- World Bank (WB) Group President Ajay Banga announced on Wednesday that the global lender would provide US$3.5 billion to support the reform initiatives of Bangladesh’s interim government, Bangladesh Sangbad Sangstha (BSS) reported.

The WB president announced that the assistance during a meeting with Bangladesh’s Chief Adviser Professor Muhammad Yunus on the sidelines of the United Nations General Assembly (UNGA) at the UN Headquarters on Wednesday (local time).

Banga, a long-time friend of Prof Yunus, stated that at least US$2 billion would be provided as fresh lending, with an additional US$1.5 billion repurposed from existing programmes.

He said the WB would support reforms in the digitisation, liquidity, energy, power, and transport sectors in Bangladesh.

During the meeting, Prof Yunus sought the World Bank’s support for the wide-ranging reforms initiated by the Interim government.

He asked the WB to be creative about its lending programme.

"It is a big opportunity to rebuild the country," he said.

The WB President discussed energy sector cooperation in South Asia, focusing on how hydro energy produced in Nepal and Bhutan could be shared with neighbouring countries like India and Bangladesh.

Energy and Power Adviser Fouzul Kabir Khan was also present at the meeting.

-- BERNAMA-BSS