$3.2 billion World Bank loans for Bangladesh over next two years
The World Bank (WB) will provide Bangladesh $3.2 billion over the next two years, Country Director of the Bank Johannes Zutt said Tuesday.
The loans will be provided against different projects, which would soon be placed at the WB's board meeting.
"The WB will remain supportive to the development needs of Bangladesh as the macro-economic outlook of the country is excellent," Johannes Zutt told the reporters after a meeting with Finance Minister AMA Muhith at the latter's finance ministry office.
Bangladesh has been performing brilliant in reducing poverty and inequality, he said, adding that the economy is on the right track of development.
Responding to a question, the WB local chief said the Bank is no longer interested to involve itself with the Padma bridge project as the government had earlier expressed its willingness not to accept loans from the lender to construct the Padma Bridge.
He said the financing strategy undertaken by the government to construct the bridge over the Padma river is viable as the bridge is an important project for the country's development and communication.
The financing options like allocation from development budget and from sovereign bond would help construct the bridge, Johannes Zutt said.
Source :financial express
