ADB, World Bank approve loans worth USD 1.5 billion to Bangladesh
The Asian Development Bank (ADB) approved a USD 900 million loan, of which USD 500 million will support efforts to stabilise and reform the country's banking sector, while the remaining USD 400 million will promote climate-resilient and inclusive development initiatives, The Daily Star newspaper reported.
The USD 500 million policy-based loan aims to strengthen governance, asset quality and stability within Bangladesh's banking system, the ADB said in a statement on Thursday.
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Separately, the ADB also approved a USD 400 million loan for the second phase of the
Climate-Resilient Inclusive Development Programme
(CRIDP) aimed at supporting Bangladesh's efforts to adapt to climate change, cut emissions and foster inclusive economic growth.
Also on Thursday, the World Bank (WB) approved USD 640 million for two projects aimed at enhancing gas supply and improving air quality in Bangladesh.
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With the ADB and WB approvals, Bangladesh is set to receive more than USD 1.5 billion -- a development that will ease the continued strain on its foreign currency reserves.
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Here's what's covered: Explore courses from Top Institutes in Please select course: Select a Course Category Design Thinking MCA Digital Marketing Others PGDM Management CXO Product Management Leadership Finance healthcare Project Management Healthcare Data Science Technology Data Science others Artificial Intelligence Degree Public Policy Operations Management MBA Data Analytics Cybersecurity Skills you'll gain: Duration: 25 Weeks IIM Kozhikode CERT-IIMK PCP DTIM Async India Starts on undefined Get Details Skills you'll gain: Duration: 22 Weeks IIM Indore CERT-IIMI DTAI Async India Starts on undefined Get Details Most clothing and footwear under $100 per item – includes school uniforms, casual wear, sneakers, sandals, and everyday kids' clothing. School supplies under $100 per item – eligible items include notebooks, binders, pens, crayons, scissors, calculators, and even some art and drawing pads. 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