Business & Economy
0 1 min read

Budget support to BD power, energy sector likely within December: WB

block

Business Report :

The World Bank is likely to provide budget support to Bangladesh’s power and energy sector within the upcoming December, the international financial institution said on Tuesday.

block

Discussions have been held with the Bangladesh Bank governor and the finance adviser regarding the budget support, World Bank’s Bangladesh Country Director Gayle Martin said during a meeting of the WB delegation with Power and Energy Adviser Muhammad Fouzul Kabir.

In response to a request regarding budget support from the adviser at the meeting, Martin expressed optimism about providing the support for the energy and power sector by next December, reads a press statement issued by the Ministry of Power, Energy and Mineral Resources on Tuesday.

block
Related

What does a Fed rate cut mean for the economy and consumers?

Reuters : The Federal Reserve cut US short-term borrowing costs on Wednesday by a bigger-than-usual half percentage point, a watershed moment that should start to ease some of the financial pressures everyday consumers have felt over the two and a half years that the central bank has battled with high inflation.The Fed, after 5.25 percentage points of increases between March 2022 and July 2023, lowered its key rate to 4.75 percent-5 percent to address rising worries about the cooling labor...

Dollar rate dips in open market as demand drops

Business Report : The value of the US dollar has decreased in Bangladesh’s kerb (open) market due to a drop in demand and an increase in supply.Currently, the dollar is being sold at Tk121-122 in the kerb market, down from Tk125 just three weeks ago, according to traders and money changers dealing in foreign currency.They attributed the drop to reduced demand for foreign travel following the political changes in the country on August 5, as well as an increased flow...

More training for women on e-GP stressed

Business Report : Speakers at a workshop on Thursday stressed the need for more training for women on e-GP for their capacity building in entrepreneurship and taking part in the government procurement system.Bangladesh Public Procurement Authority (BPPA) arranged the day-long workshop on electronic Government Procurement (e-GP) in its conference room at BPPA Bhaban on the campus of the Bangladesh Planning Commission in Dhaka.The workshop was aimed at encouraging women’s participation in public procurement process, a BAPPA press release said.The workshop...