The World Bank on Monday suggested the government carry out the reforms earlier tagged with the lender's ongoing budgetary support worth $500 million to pave the way for such loans in future.
The government has sought another budgetary support, at least $500 million, from the same institution to facilitate recovering from the adverse impacts of the current global economic crisis.
WB's Regional Vice President for South Asia Martin Raiser during his meeting with the government agencies concerned put forward the suggestion. He concluded his three-day visit to Dhaka on Monday.
Under the Covid-19 emergency response and pandemic preparedness project, the global lender has already released the first tranche of $250 million budgetary support out of the assured $500 million in the last FY22.
The second tranche would be disbursed subject to meeting the conditions imposed by the lender.
Meanwhile, Raiser reaffirmed the World Bank's continued support to the country so that it can navigate through the current economic challenges and achieve resilience and inclusive growth.
On the last day of his visit, he called on Prime Minister Sheikh Hasina and thanked her for the country's leading role in climate change adaptation and disaster preparedness, said a press release issued by the WB's Dhaka office.
During his visit, Raiser also met with the finance minister and Bangladesh Bank governor and discussed policy measures to mitigate the recent global shocks and build economic resilience.
Raiser was accompanied by Abdoulaye Seck, World Bank's incoming country director for Bangladesh and Bhutan, who is going to assume his position on January 1, 2023.
The war in Ukraine, the impacts of the Covid-19 pandemic, and the climate crisis have created unprecedented challenges for the global economy. Every country is struggling to cope, and Bangladesh is no exception, he said.
Bangladesh can sustain rapid growth by strengthening macro, fiscal and financial sector reform and continuing investment in human capital and climate resilience.
"We are ready to lend our full support to these efforts at this challenging time," he added.
