Economy News Desk: The World Bank has announced to provide about 1 billion dollars in loan assistance to Bangladesh for financial sector reform.
Bangladesh Bank Executive Director and Spokesperson Husne Ara Shikha revealed this information on Sunday (September 15).
Out of 1 billion (1000 million) dollars, 750 million dollars will be provided as a Policy Loan and 250 million dollars as an Investment Loan and Guarantee Facility.
This loan is supposed to be approved by the World Bank board by December.
Bangladesh has to fulfill three conditions to get the loan. They are-
1. Formation of asset management companies in the private sector.
2. New definition of defaulted loans in international standards.
3. Presenting the report of the audit firm of the newly constituted Task Force to the World Bank.
Meanwhile, the United States will provide 200 million dollars in assistance to the priority sectors of the interim government for the development of Bangladesh. Anjali Kaur, Deputy Assistant Administrator of USAID, who is visiting Dhaka, said that this money will be given under the Development Cooperation Agreement.
She said that it is good to be a part of the US delegation for the first time during the new interim government of Bangladesh. We have signed an agreement with the government. Under this, 200 million dollars will be given to the priority sectors of the government. We want to work with the interim government.
