Finance
Bangladesh World Bank promises a loan of 36,000 crores to Bangladesh
Dhaka, 12 June 2023 : The World Bank has set a record by promising a loan of around 36,500 crores to Bangladesh in the current financial year.
The body has never promised so many loans in one year.
In the current fiscal year, Bangladesh has received a total loan commitment of 3.41 billion US dollars from the World Bank.
In Bangladeshi currency that is 36 thousand 487 crores (107 taka per dollar).
Among them, the loan agreement of 225 million dollars was made during Prime Minister Sheikh Hasina's visit to the World Bank.
This information is known from the source of Economic Relations Department (ERD).
Recently, the government signed a loan agreement of 858 million dollars or 9 thousand 180 crore rupees with the World Bank for the implementation of two projects.
Among these, the Ministry of Agriculture's 'Program on Agriculture and Rural Transformation for Nutrition Entrepreneurship and Resilience (Partner)' project has an agreement to finance 500 million dollars or 5 thousand 380 crore taka.
In addition, a financing agreement of 358 million dollars or 3 thousand 830 crore rupees has been signed for the Bangladesh road safety project.
On May 2, a loan agreement of 2.25 billion dollars was signed with the organization at the headquarters of the World Bank. The loan agreement was signed in the presence of Prime Minister Sheikh Hasina and World Bank President David Malpass. This money will be spent on five development projects in regional trade and communication and disaster preparedness and environmental management.
Projects include the $500 million Resilient Infrastructure Building Project to adapt and reduce risk, which is the first major investment project to implement DeltaPlan 2100. This will help in developing disaster preparedness against inland floods. The second project titled Bangladesh Environmental Sustainable and Transformation (BEST) will cost 250 million dollars. It will help strengthen environmental management in Bangladesh and encourage private sector participation in green investment. Besides, the "Accelerating Transport and Trade Connectivity in Eastern South Asia (ACCESS) Bangladesh Phase-1'' project at a cost of 753.5 million dollars will help Dhaka to increase regional trade and connectivity.
The fourth project will cost 500 million dollars. The project titled 'First Bangladesh Green and Climate Resilient Development (GCRD)' will help the country in green and climate resilient development. Besides, the fifth project titled 'Sustainable Microenterprise and Resilient Transformation (SMART)' will be implemented at a cost of 25 million dollars. The project will help transform the small scale industry sector into a more dynamic, less polluting, efficient and climate resilient growth sector.
