Bangladesh will receive a combined budget support of $1.1 billion from the World Bank and the Asian Development Bank (ADB) by this December, according to the Ministry of Finance.

A press release signed by Public Relations Officer Gazi Towhidul Islam confirmed the matter on Sunday (Dec 22).

The press release says the World Bank has approved $500 million, while ADB has approved $600 million in budget support to accelerate reforms and development initiatives of the interim government.

Additionally, the World Bank has sanctioned $379 million for health and nutrition programs and $280 million for improving the water supply system in Chattogram.

On December 18, Bangladesh signed a $600 million loan agreement with ADB for the Strengthening Economic Management and Governance Program, designed by the Finance Division. 

On December 19, the World Bank approved $500 million for Bangladesh under the Second Green and Climate Resilient Development Credit.

The ministry expects the total budget support of $1.1 billion to be disbursed by the end of December.

BDST: 1809 HRS, DEC 22, 2024
MSK/SMS