World Bank can provide $2b in loans: Martin Raiser

The World Bank could provide a total of $2 billion in support to Bangladesh in the current fiscal year 2024-2025, which would include budget support and project assistance, said Martin Raiser, vice president for South Asia at the World Bank

"The final decision on the loan is made during the World Bank's board meeting. However, the possibility of providing $2 billion in assistance for the current fiscal year is being examined," said Martin Raiser today after a meeting with Finance Adviser Salehuddin Ahmed.

"Some of this amount will be given as budget support, while the rest will be allocated to various important projects in the health and energy sectors. Additionally, further support will be provided for other projects based on the needs of the Bangladesh government," he added. 

He also mentioned that they are exploring what can be done from the International Development Association (IDA) fund of the World Bank.

Regarding the meeting, Finance Advisor Salehuddin Ahmed said, "Discussions covered various topics with the World Bank, such as budget support, health and energy, fertilizer imports, and food self-sufficiency. Issues like post-flood rehabilitation and the Rohingya crisis were also discussed."

He mentioned that the World Bank has been very positive about these matters and that the areas for support are now quite clear. 

"The World Bank will also coordinate with other organisations," he said. 

Furthermore, the adviser added that the reforms Bangladesh has undertaken seem credible to the World Bank. 

Abdoulaye Seck, the World Bank's country director for Bangladesh, also attended the meeting.

Martin Raiser arrived in Dhaka on 18 September for a two-day visit. He is also set to meet with the chief adviser of the Interim Government Dr Muhammad Yunus during his stay.