Bangladesh eyes 1.1 billion USD from ADB, World Bank by December

Dhaka, Nov 20 The Asian Development Bank (ADB) and the World Bank will provide 600 million and $500 million, respectively, in loan assistance by December, Bangladeshi Finance Secretary Md Khairuzzaman Mozumder said.

He made the disclosure during a press conference on Tuesday at the Ministry of Finance, organised to mark the interim government's 100 days in office, Xinhua news agency reported.

Mozumder said policies implemented by the interim administration have been positively received by donor agencies such as the International Monetary Fund (IMF) and the World Bank.

"Our interim government's policy measures have yielded good results, exceeding our initial expectations in terms of funding. For instance, we have successfully negotiated 600 million dollars in loans with the ADB and expect to receive the funds by December," he said.

He also highlighted progress with the World Bank, which has agreed to provide 500 million dollars in loan support within the same timeframe. "Originally, these loans were set at 300 million dollars and 250 million dollars, respectively, but were later doubled due to favourable negotiations."

The government is seeking further financial assistance from the IMF, Mozumder said, adding, "We have requested an additional 1 billion dollars in support from the IMF for this year.

Discussions are set to conclude when the IMF team visits on December 4, and we are optimistic about the outcome."

Source: IANS