Bangladesh expects WB budget support within this year: Dr Salehuddin

Finance and Commerce Adviser to the interim government Dr. Salehuddin Ahmed has said that Bangladesh is expecting budget support from the World Bank before the end of the current year.

The adviser made this announcement emerging out of a meeting with a World Bank delegation led by Regional Director Mathew A Verghis at the Secretariat in the capital on Tuesday (September 17).

Dr. Salehuddin stressed the importance of swift financial assistance from the World Bank, highlighting the need for urgent reforms in the country’s banking and financial sectors, reports UNB.

“Since the World Bank is our largest multilateral development partner, we need special support in the form of financial and technical assistance,” he stated.

The World Bank has responded positively, Dr Salehuddin said, noting that further detailed discussions will focus on the implementation of these reforms.

“They have been assured, and more detailed discussions will be held, mainly on how to carry out the reforms,” he added.

Asked about reports that Bangladesh has requested $2 billion in fresh funding, Dr Salehuddin did not specify the amount, stating that the figure would be finalized later.

However, officials from the Finance Ministry indicated that the World Bank is likely to provide a $1 billion loan, with $750 million earmarked specifically for policy reforms.