The Asian Development Bank (ADB) and the World Bank (WB) have approved a US$1.1 billion budget support for Bangladesh.
A press release from the Ministry of Finance said that of the US$1.1 billion budget support, the WB approved $500 million, while the ADB approved $600 million to accelerate the interim government’s reforms and development activities.
The budget support of $1.1 billion is expected to be available by December this year.
In addition to the budget support, the World Bank has approved $379 million for the country’s health and nutrition sector and $280 million for developing the water supply system in Chattogram.
On December 18, 2024, the government of Bangladesh and the ADB signed a $600 million loan agreement for the ‘Strengthening Economic Management and Governance Programme, Subprogramme 1’ programme, which the Finance Division initiated.
On December 19, 2024, the WB approved a budget support of $500 million for Bangladesh. The WB is providing this budget support under the ‘Second Bangladesh Green and Climate Resilient Development Credit’ to support the successful implementation of green and climate-resilient development reform programs.
Cox’s Bazar Life Desk/BSS
