Ajay Banga, president of the World Bank Group, announced on Thursday that the international lender would give Bangladesh’s interim government USD 3.5 billion to help its reform plans.
During a meeting with Bangladesh’s chief adviser, professor Muhammad Yunus, on the fringes of the UN General Assembly (UNGA) at the UN Headquarters in New York on Wednesday (local time), the president of WB announced the aid.
Banga, a close friend of professor Yunus, stated that at least US$ two billion will come from new loans and an additional US$ 1.5 billion would come from the repurposing of current initiatives.
He declared that the World Bank would back reforms in Bangladesh’s energy, power, transportation, digitalization, and liquidity sectors.
Professor Yunus asked for the World Bank’s backing for the extensive reforms that the Interim government had implemented during the meeting.
He requested that the WB use creativity in its financing initiative.
“It is a big opportunity to rebuild the country,” he stated.
The WB president talked about how South Asian countries are working together in the energy industry and how neighbors like Bangladesh and India may share hydroelectric power generated in Nepal and Bhutan.
Fouzul Kabir Khan, the adviser on energy and power, was present during the conference.
