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Dhaka to receive $600 mn loan from ADB, $500 mn from World Bank by Dec

20 Nov '24

1 min read

Dhaka to receive $600 mn loan from ADB, $500 mn from World Bank by Dec

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The World Bank and the Asian Development Bank (ADB) will offer Bangladesh $500 million and $600 million in loan assistance respectively by December, according to the country's finance secretary Mohammad Khairuzzaman Mozumder.
These loans were initially set at $250 million and $300 million respectively, but were later doubled due to favourable negotiations, he said.

The World Bank and the Asian Development Bank (ADB) will offer Bangladesh $500 million and $600 million in loan assistance respectively by December this year, according to the country’s finance secretary Mohammad Khairuzzaman Mozumder.

These loans were initially set at $250 million and $300 million respectively, but were later doubled due to favourable negotiations, Mozumder told a press conference to mark the interim government's 100-day milestone.

The interim administration’s policies have yielded sound results, exceeding the government’s initial funding expectations, and have been positively received by donor agencies, he noted.

"We have requested an additional $1 billion in support from the IMF for this year. Discussions are set to conclude when the IMF team visits on December 4, and we are optimistic about the outcome," Mozumder was quoted as saying by domestic media reports.

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