Staff Reporter :
The Asian Development Bank (ADB) and the World Bank (WB) have jointly approved budget support totalling USD 1.1 billion for Bangladesh, aiming to address the ongoing economic crisis and promote growth through investments in infrastructure, healthcare, and the financial system.
Of the total, the WB has sanctioned USD 500 million, while the ADB has committed USD 600 million to accelerate reforms and development activities under the interim government, according to a press release issued by the Ministry of Finance yesterday.
This budget support is expected to be disbursed by December 2024.
In addition to the budget support, the World Bank has approved USD 379 million for the country’s health and nutrition sector and USD 280 million for improving the water supply system in Chattogram.
On 18 December 2024, Bangladesh signed a loan agreement with the ADB for USD 600 million under the programme titled ‘Strengthening Economic Management and Governance Programme, Subprogramme 1’, which was initiated by the Finance Division.
On 19 December 2024, the WB approved USD 500 million in budget support under the ‘Second Bangladesh Green and Climate Resilient Development Credit’, aimed at advancing green and climate-resilient development reforms.
