Bangladesh has the potential to attract significant investment and generate millions of jobs by carrying out key reforms in four promising sectors -- green readymade garments (RMG), housing for the middle class, paint and dyes, and digital financial services, according to a new report by the World Bank Group.
As much as $670 million (around Tk 8,200 crore) from slow-moving World Bank-funded projects will be repurposed, with most of the funds going towards budget support as the government looks to navigate the narrow fiscal space amid a slowing economy.
These two financial agreements will help Bangladesh achieve green growth: WB country director
The high cost of servicing foreign debt has pushed many developing countries to borrow more money from multilateral institutions like the World Bank, stretching their finances
Bangladesh to utilise the fund to speed up reforms, stabilise reserves
He speaks at a discussion organised by the Finance Division in collaboration with the World Bank
The International Monetary Fund and World Bank annual meetings are scheduled to draw more than 10,000 people from finance ministries, central banks and civil society groups to discuss efforts to boost patchy global growth, deal with debt distress and finance the green energy transition
The government is expecting at least $5.65 billion in budget support this fiscal year from the World Bank, the International Monetary Fund (IMF), and the Asian Development Bank (ADB) to expedite reforms.
The meetings will take place in between October 21 and October 26
The global lender came up with the warning in a statement yesterday in light of recent reports of online loan scams using its name and logo in Bangladesh.
Rarely have the shortcomings of world leaders and existing institutional arrangements been so glaringly obvious.
The global financial system looks stable, because central banks have shifted more and more debt onto their books.
WB Country Director Abdoulaye Seck says at AmCham meeting
WB country director shared the information in a meeting with Planning Minister MA Mannan
Bangladesh's economy may grow at a slower pace in the current fiscal year than it did in the previous year as it faces significant economic headwinds such as high inflation, external payment pressure, financial sector vulnerabilities and uncertainty, the World Bank said today.
The World Bank has approved a $200 million loan to help improve primary healthcare services and prevent mosquito-borne diseases like dengue in Bangladesh.
Bangladesh and the World Bank today signed a $300 million financing agreement to equip about 900,000 economically disengaged rural youths with skills and alternative education needed for employment and entrepreneurship
The leaders at the Paris summit recognised the urgent need for a massive expansion of official development financing from the Multilateral Development Banks (MDBs).
The World Bank has launched a $1.03 billion inter-country connectivity project in the South Asia region that will lead to an increase in national income by over 16 percent in Bangladesh.
