DHAKA, 17th September, 2024 (WAM) -- Bangladesh said on Tuesday the World Bank has committed to providing over US$2 billion in new financing this fiscal year to support the country's ongoing reform efforts, flood response initiatives, and improvements in air quality and healthcare, Reuters reported.
The announcement was made by the World Bank's Country Director, Abdoulaye Seck, following a meeting with the head of the interim government Nobel laureate Muhammad Yunus in Dhaka on Tuesday.
"We would like to support you as fast as possible and as much as possible," Yunus' office quoted Seck as saying in a statement, underscoring the bank's commitment to addressing Bangladesh's financial needs as it embarks on critical reforms under the interim government.
The World Bank also plans to repurpose an additional $1 billion from existing programmes, which will raise the total amount of soft loans and grants to approximately $3 billion for this fiscal year that ends in June 2025.
The funds will be used to support a variety of key areas, including the country's response to natural disasters and economic reforms.