World Bank (WB) Group President Ajay Banga has said the global lender will provide $3.5 billion to support reform initiatives of Bangladesh’s interim government.
The WB president announced the assistance in a meeting with Bangladesh Chief Adviser Dr Muhammad Yunus on the sidelines of the United Nations General Assembly (UNGA) at the UN headquarters in New York, US, on Wednesday (local time).
Banga, a long-time friend of Yunus, said at least $2 billion will be provided as fresh lending and another $1.5 billion will be repurposed from the existing programs.
He said the WB will support reforms in digitization, liquidity, energy, power and transport sectors in Bangladesh.
During the meeting, Yunus sought the World Bank’s support for the wide range of reform initiatives the interim government has taken.
He asked the WB to be creative about its lending program.
"It is a big opportunity to rebuild the country," he said.
The WB president discussed the energy sector cooperation in South Asia and how hydro energy produced in Nepal and Bhutan can be shared by neighbours such as India and Bangladesh.
Energy and Power Adviser Muhammad Fouzul Kabir Khan was present in the meeting.
