A total of US$1.1 billion in budget support for Bangladesh has been granted by the World Bank (WB) and the Asian Development Bank (ADB).
According to a press release from the Ministry of Finance here today, the ADB granted $600 million of the US$1.1 billion budget support, while the WB authorized $500 million to speed up the interim government’s development and reform efforts.
By December of this year, a total of $1.1 billion in budget help should be available.
The World Bank has also authorized $280 million for the development of Chattogram’s water supply infrastructure and $379 million for the nation’s health and nutrition sector in addition to the budget support.
The government of Bangladesh and the ADB inked a $600 million loan agreement on December 18, 2024, for the “Strengthening Economic Management and Governance Programme, Subprogramme 1” initiative. The Finance Division took the initiative to create this program.
On December 19, 2024, the World Bank authorized $500 million in budget support for Bangladesh. For the successful execution of development reform initiatives that are both green and climate resilient, the World Bank is offering this financial support under the “Second Bangladesh Green and Climate Resilient Development Credit.”
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