World Bank and Asian Development Bank have approved budgetary support loans worth $ 1.1 billion to accelerate the interim government's reform and development activities.
The total budget support is expected to be available by December this year, according to a release from Finance Ministry.
Of the total amount the World Bank will provide $500 million and ADB will give $600 million.
Bangladesh, ADB ink $600m loan deal for structural reforms
In addition to the budget support, the World Bank has also approved project support of $379 million for the health and nutrition sector and $ 280 million for the development of the water supply system in Chittagong.
On December 18, 2024, a loan agreement of $ 600 million was signed between the Government of Bangladesh and the Asian Development Bank (ADB) for the programme titled Strengthening Economic Management and Governance Program, Subprogram.
On December 19, 2024, the World Bank approved the provision of $ 500 million in budget support to Bangladesh.
ADB to lend USD 100 million to Bangladesh for infrastructure dev
The World Bank provided this budget support under the Second Bangladesh Green and Climate Resilient Development Credit for the successful achievement of reform activities for green and climate-resilient development.