World Bank giving Bangladesh Tk 2,675 cr loan

The World Bank (WB) is giving Bangladesh a loan of Tk 25 crore dollars, Tk2,675 crore in Bangladesh currency.

Martin Raiser, Vice President  (South Asia Region)  of World Bank, who is visiting Bangladesh held a meeting with the Secretary of the Economic Relations Department (ERD) Sharifa Khan at Sher-e- Bangla Nagar of the capital on Sunday (November 13). 

At the end of the meeting, the officials of ERD revealed the information.

According to ERD, Bangladesh sought a loan of 1 billion dollars from the World Bank to meet the challenges of the Ukraine-Russia war. In this context, WB is giving 25 crore dollar in the first round. The remaining 75 crore dollar will be provided in installments by the international organization.

This World Bank loan is to be repaid in 30 years with a grace period of five years with 2 percent interest. The organization will provide this loan under Grid DPC series. Martin Raiser assured that the remaining 75 crore dollar will be given within two years.

According to ERD officials, to import nine important products will cost about $8.2 billion dollar more in 2022 than that in 2021. To deal with these effects, a loan of 1 billion US dollars was requested from the World Bank. For this, the organization will open a separate window and give $25 crore dollar under Grid DPC in February 2023.

In addition, Bangladesh sought a loan of 50 crore dollar from the World Bank to help implement the budget. Under this, the organization is giving 25 crore dollar. The remaining 25 crores will be available in February.