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Bangladesh: Bangladesh seeking $2 Billion from World Bank, ADB

DHAKA, 04 August 2022, (TON): Bangladesh is seeking $2 billion from the World Bank and the Asian Development Bank amid efforts to bolster its foreign exchange reserves.

Bangladesh's $416 billion economy has been one of the fastest-growing in the world for years, but rising energy and food prices because of the Russia-Ukraine war have inflated its import bill and the current account deficit.

The government wrote letters to the two lenders seeking $1 billion each, the report said, citing people familiar with the matter.

This comes days after Bangladesh's Daily Star newspaper reported that the country wanted $4.5 billion from the International Monetary Fund (IMF), including for budgetary and balance-of-payment support.

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