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 World Bank has agreed to provide a loan of $2.25 billion to Bangladesh
Bangladesh’s policy responses to mitigate external imbalances have so far been inadequate although risks have deepened for the country owing to geopolitical tensions, said the World Bank today.
The key to the ACC’s effectiveness in delivering its mandate is independence, especially when setting the example that, in handling allegations of corruption, it is guided by equality before law, and not by the status or identity of the individual depending on their political, governmental, or other connections.
Malpass, appointed by former US President Donald Trump, will depart the multilateral development bank, which provides billions of dollars a year in funding for developing economies, by the end of June.
How much good did the World Bank do in our country?
The agricultural and cereal prices were 2 per cent higher than two weeks ago
Bangladesh has averted a potential major crisis by reaching out to the International Monetary Fund (IMF) in a timely manner, said Kaushik Basu, a former chief economist of the World Bank.
World Bank Managing Director for Operations Axel van Trotsenburg today reaffirmed the global lender’s strong support for Bangladesh to help achieve its vision of achieving upper-middle income status by 2031.
The country’s apparel makers have sought cooperation from the World Bank (WB) for the development of Bangladesh’s garment sector.
Bangladesh should be careful about falling into the middle-income trap, said Axel van Trotsenburg, the World Bank’s managing director of operations.
