The World Bank has pledged to increase credit support for Bangladesh in the current fiscal year to support the interim government’s reform agenda.
World Bank Bangladesh Country Director Abdullaye Sek made the announcement during a meeting with Principal Adviser Professor Muhammad Yunus at the Rashtriya Guest House Jamuna in Dhaka on Tuesday (September 17).
Abdoulaye Sek said the World Bank could provide nearly $2 billion in new financing this fiscal year for critical reform programs, post-flood relief, air quality improvement and the health sector.
“We want to help you as quickly and as much as possible,” he said.
He also said that in addition to the new pledge, about one billion dollars will be added from existing programs. The extra money will be provided by the World Bank as part of Professor Yunus’ call for more support from development partners.
Abdoulaye Sek said, as a result of this additional loan, the total amount of World Bank’s soft loans and grants for Bangladesh in the current fiscal year will reach about three billion dollars.
Principal Adviser Professor Yunus told the World Bank Country Director that the World Bank must be flexible to help the new Bangladesh on its way to end fifteen years of misrule.
The chief adviser also wants the World Bank’s help in recovering the money that has been smuggled abroad during the government of Sheikh Hasina. The country director of the World Bank said that assistance will be given to return the smuggled money.
Paying tribute to the martyrs of the July-August student movement, Abdoulaye Sek said he was impressed by the graffiti and murals painted by the youth on the walls of Dhaka.