World Bank to provide Bangladesh $2 billion

The World Bank (WB) will provide $2 billion or more within the fiscal year 2024-25, Vice President for the South Asia Region Martin Raiser hopes. 

Raiser expressed the sentiment while talking to reporters after his meeting with the interim government's Finance Adviser Dr Salehuddin Ahmed on Thursday. 

When asked how much assistance the WB may provide the interim government, Raiser said the final decision is up to the Board of Directors, so he cannot make any promises. However, the WB wants to help Bangladesh in several sectors, and he assumes more than $2 billion will be provided in the current fiscal year. 

Dr Salehuddin Ahmed said that the World Bank would provide support to Bangladesh in carrying out necessary reforms in the banking and other sectors.

"We'll receive support from the World Bank for the reforms we've undertaken in the banking sector," said the finance adviser while talking to reporters.

He added, "We discussed various issues, including budget support, assistance in the health and energy sector, even fertilizer imports, food self-sufficiency, post-flood rehabilitation and Rohingya support with the World Bank's South Asia Vice President and his team."

In addition, Dr Salehuddin said they also talked about supporting the forcibly displaced Rohingyas.

"The World Bank was very positive about all the proposals that we presented, and they provided concrete responses. They (WB) assured us that they, along with other development partners, would coordinate, and there would be no hesitation in providing necessary funding or assistance," he added.

The finance adviser said they also discussed issues related to boosting investment in the private sector and addressing various challenges in business and trade. "They have assured us of their assistance, and we will receive the necessary support," he added.

About the amount of possible fresh support from the Washington-based lending agency, Dr Salehuddin denied revealing the amount.

World Bank Country Director for Bangladesh and Bhutan Abdoulaye Seck, Operations Manager Gayle Martin, and IFC Country Representative Martin Holtman, among others, were present.

Besides, Finance Division Secretary Dr Md Khairuzzaman Mozumder and Economic Relations Division (ERD) Secretary Shahriar Kader Siddiky were also present at the meeting.