World Bank, ADB approve $1.1b budget support

World Bank approved $500 million while the Asian Development Bank (ADB) $600 million to accelerate the reforms and development activities of the interim government.

A press release from the finance ministry confirmed the matter on Sunday (December 22).

A total of $1.1 billion budget support would be available in this month (December).

According to the notice, in addition to the budget support, the World Bank has also approved $379 million for the country’s health and nutrition sector and $280 million for the development of the water supply system in Chattogram.

On December 18, 2024, a loan agreement of $600 million was signed between the government of Bangladesh and the ADB for the programme titled ‘Strengthening Economic Management and Governance Programme, Subprogramme 1’. This programme was formulated at the initiative of the Finance Division.

The WB has approved a budget support of $500 million for Bangladesh on December 19, 2024. The WB is providing this budget support under the ‘Second Bangladesh Green and Climate Resilient Development Credit’ for the successful implementation of green and climate-resilient development reform programs.