Pledging the World Bank's support for critical reforms to help the country achieve inclusive and sustainable growth, its Vice President for South Asia Martin Raiser on Thursday said Bangladesh has the opportunity to implement critical reforms that were unaddressed for a longtime. Raiser met Chief Adviser Prof Muhammad Yunus and discussed
Tag: WB
WB clears projects worth $900m for Bangladesh
The World Bank's Board of Executive Directors has approved two projects totaling $900 million to help Bangladesh strengthen fiscal and financial sector policies and improve urban infrastructure and management to ensure sustainable and climate-resilient growth. In recent years, Bangladesh has been among the largest recipients of the World Bank's interest-free credits,
Commodity prices to slightly go down in 2024, 2025: WB
Commodity prices are projected to experience a slight downturn in 2024 and 2025 but are expected to remain above pre-pandemic levels, according to the World Bank. Energy prices are expected to decline by 3% in 2024, as notably lower prices of natural gas and coal offset higher oil prices, followed by
WB okays $102m to improve navigability of Jamuna
The World Bank has approved $102 million financing for Bangladesh to improve riverbank protection and navigability of the Jamuna river in an effort to save people from being displaced, protect their livelihoods, and spur economic activities. The approval came on Tuesday at a meeting of the global lender's board of directors
Dhaka faces continued external pressures: WB
World Bank Vice President for South Asia, Martin Raiser, has reaffirmed the organization's continued support to help Bangladesh achieve sustainable and inclusive growth. "Bangladesh faces continued external pressures, which require careful macroeconomic management, but also a deepening of structural reforms to attract more private investment, boost jobs and strengthen resilience against
Forex reserve up $30b after receiving WB loan
Bangladesh's foreign exchange reserve has increased to $30.36 billion which was $29.78 billion just a day ago. "Currently the country's reserves amount to $30.36 billion. Which was $29.78 billion a day ago. Bangladesh received $507 million as budget support from the World Bank," said Bangladesh Bank spokesperson Mezbaul Haque on Wednesday
World Bank refuses new funding for bankrupt Sri Lanka
The World Bank said Friday it would not offer new funding to Sri Lanka unless the bankrupt island nation carried out "deep structural reforms" to stabilise its crashing economy. Sri Lanka has suffered an unprecedented downturn with its 22 million people enduring months of food and fuel shortages, rolling blackouts and
WB okays $500m flood preparedness credit for Bangladesh
The World Bank on Friday approved a loan of $500 million to help Bangladesh improve disaster preparedness against inland flooding in 14 flood-prone districts, benefiting over 1.25 million people. The Resilient Infrastructure for Adaptation and Vulnerability Reduction (RIVER) project will help Bangladesh reduce vulnerability to riverine and flash floods by constructing
Deal signed on $515m WB loan for power sector
Bangladesh and the World Bank on Wednesday signed a $515 million financing agreement to help nine million people get access to reliable power supply while transitioning to clean energy. The agreement was signed by Economic Relations Division secretary Fatima Yasmin and Acting World Bank Country Director for Bangladesh and Bhutan, Dandan
WB okays $1.03b to improve regional trade
The World Bank on Wednesday approved $1.03 billion of financing to help improve regional trade in Bangladesh and Nepal by reducing trade and transport costs and transit time along the regional corridors. The Accelerating Transport and Trade Connectivity in Eastern South Asia (ACCESS) Program Phase 1 will help the respective governments