World Bank Commits $3.5 Billion to Support Interim Government’s Reform Agenda

Ajay Banga, president of the World Bank, announced that the organisation would give Bangladesh $3.5 billion to help with the reform plans of the interim government.

During a meeting with Bangladesh Chief Adviser Professor Muhammad Yunus yesterday (NY Time), on the fringes of the UN General Assembly at the UN Headquarters in New York, the president of the World Bank announced his support.

Long-time Yunus ally Banga stated that at least $2 billion would come from new loans, and an additional $1.5 billion would come from the repurposing of current initiatives.

He stated that the World Bank would support reforms in transportation, energy and power, digitization, and liquidity.

Yunus asked the World Bank to support the extensive reforms the interim government had carried out during the meeting.

He requested that the World Bank use creativity in its lending initiative.

“It is a big opportunity to rebuild the country,” he stated.

The president of the World Bank talked about collaboration in the energy sector in South Asia and how neighbours like Bangladesh and India could share hydroelectric power generated in Nepal and Bhutan.

Fouzul Kabir Khan, the adviser on energy and power, was also present at the meeting.