Finance Minister Amir Khasru Mahmud Chowdhury stated that discussions are ongoing regarding obtaining an additional $10 billion in loan assistance from the World Bank.
No final decision has been reached yet on this matter. Completing the discussions and subsequent steps could take several more months.
He made these comments on Tuesday in response to questions from journalists after meeting with the managing director (MD) of the World Bank in Bangkok, Thailand.
The minister said: "No decision is being made here. This is a discussion. Subsequent actions will be taken based on this talk. It is a process that will continue over the next few months."
He added that through these discussions, the future courses of action for both sides are being outlined, forming the basis for potential decisions. Discussions on this matter will also continue in Dhaka.
Expressing satisfaction with the progress of talks with the World Bank, Amir Khasru noted that there is alignment between the World Bank and Bangladesh’s economic policies, programs, and medium- to long-term development plans.
The organization also agrees with the policies adopted by the government to establish economic stability and overcome the current situation.
He said the economy was in crisis when the current government assumed office. In addition to handling past liabilities, the government has to navigate economic disruptions caused by ongoing global conflicts. The World Bank recognizes these factors.
The minister said: "The World Bank is very eager to stand beside Bangladesh. They fully agree with the policies we have adopted and the economic agenda and trajectory we have set for the coming days after restoring economic stability."
He also mentioned that discussions are ongoing regarding the partnership framework with the World Bank.
He stated that Bangladesh has submitted a written proposal on this matter. The World Bank provided various recommendations and advice, while Bangladesh also presented its own proposals.
Asked about the inflation and Gross Domestic Product (GDP) growth forecasts released by the World Bank and the Asian Development Bank (ADB), the minister remarked that the government does not wish to contest the projections of other institutions. These organizations made their forecasts based on their own calculations and analysis.
He stated that the government is working to achieve the economic targets set in the national budget and remains hopeful that the budgetary projections will be met.
