The World Bank is set to dish out $500 million as loan to Bangladesh for reforms in the revenue and financial sector, as well as alleviating living standards of the poor.
Of the amount, $250 million will be released this year.
The interest rate for the loan will be 1.75%, including service charge.
The tenure of the loan will be 30 years and the grace period will be 5 years.
Fatima Yasmin, secretary of the Economic Relations Division (ERD), inked the deal with Mohammad Anis, acting country director of World Bank's Dhaka office, signed a deal in this regard at the ERD in the capital.
