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Bangladesh: World Bank loan to bolster Bangladesh's economic growth
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DHAKA, 20 April 2022, (TON): Bangladesh and the World Bank have signed a $250 million financing agreement to support the country’s reform efforts to sustain growth and to enhance resilience to future shocks, including climate change.
The World Bank said in a release “Bangladesh First Recovery and Resilience Development Policy Credit the first in a series of two credits will help Bangladesh build a stronger fiscal and financial sector to sustain growth.”
The credit is from the World Bank’s International Development Association, which provides concessional financing, and has a 30-year term, including a five-year grace period.
It will help streamline the bank recovery framework with all scheduled banks to update recovery plans annually.
The program supports the legislative framework on payments, which will contribute to a more efficient financial system.
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