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World wide - August 22, 2022

WB to give $1500 cr for 55 projects

Staff Correspondent: The World Bank will give 1500 crore US dollars to Bangladesh as loan to implement 55 projects. Its amount in Bangladeshi currency is about 1 lakh 38 thousand crores (92 taka per dollar).
Mercy Tembon, the World Bank’s outgoing country director for Bangladesh and Bhutan, said this at the farewell meeting at the Planning Minister’s office in Sher-e-Bangla Nagar in the capital yesterday.
At this time, Mercy Tembon and Planning Minister MA Mannan discussed various aspects of financing in Bangladesh. Mercy Tembon will leave Bangladesh soon after being promoted to join the World Bank as Vice President.
Marcy Tembon said, the World Bank released 80 lakh dollars for Bangladesh in the last 3 years. The World Bank has committed to finance 1500 crore US dollars in 55 new projects for Bangladesh.
He said, I am impressed with the development of Bangladesh. Bangladesh has continued to develop since the time of Covid. Since I will be the Vice President of the Board of the World Bank, I will have a role in every Board meeting. Especially if any issue of Bangladesh comes up in the World Bank board meeting, I will continue to try my best.
Planning Minister MA Mannan said that the economy of Bangladesh can turn around from September. Several indicators bear that impression.
Meanwhile, remittance flows and exports have increased. Like other countries in the global crisis, Bangladesh is also in some crisis. However, the country’s economy will be on the path to recovery from next month with the multifaceted initiatives of our government.
He said that despite the strained relations with the World Bank, this international organization is an important partner in the development of Bangladesh. Bangladesh wants more funding from the organization for the development of education and rural infrastructure in the future. The minister hopes that this cooperation will continue from the side of the World Bank.

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