WB to provide $3.5 billion to support Bangladesh's reform initiatives

The World Bank (WB) is set to provide USD 3.5 billion to support the reform initiatives of Bangladesh’s interim government.

WB Group President Ajay Banga announced the assistance during a meeting with Bangladesh's chief adviser, Professor Muhammad Yunus, on the sidelines of the United Nations General Assembly (UNGA) at the UN Headquarters in New York on Wednesday.

The estimated funding will support reforms in the digitization, liquidity, energy, power, and transport sectors in Bangladesh.

Banga, a longtime friend of Professor Yunus, stated, "At least USD 2 billion will be provided as new lending, while an additional USD 1.5 billion will be repurposed from existing programs."