World Bank commits to Bangladesh
World Bank commits to Bangladesh
World Bank commits to Bangladesh
News summary

The World Bank has announced it could mobilize an additional $2 billion in financing for Bangladesh this fiscal year to support critical reforms, flood response, and improvements in health and air quality. This commitment was made by World Bank Country Director Abdoulaye Seck during a meeting with Chief Adviser Muhammad Yunus. In addition, the World Bank plans to repurpose approximately $1 billion from existing programs, raising total support to around $3 billion. The Asian Development Bank (ADB) is also set to contribute $1.5 billion, focusing on reforming the banking sector, with $1 billion coming from the World Bank specifically for that purpose. Both institutions have outlined conditions that Bangladesh must meet to access these funds, emphasizing the urgency of financial and governance reforms. Yunus has called for technical support from the World Bank to aid in recovering assets lost to corruption during the previous government's tenure.

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