World Bank pledges $2B to Bangladesh, says Dhaka

By SM Najmus Sakib

DHAKA, Bangladesh (AA) – The World Bank has pledged to Bangladesh it will mobilize $2 billion in fresh financial assistance to support the transitional government’s reform agenda and improve the country’s health and environment.

“World Bank can mobilize about $2 billion in new financing in this fiscal year to support critical reforms, flood response, better air quality and health in Bangladesh,” Muhammad Yunus, chief adviser to the transitional government, said on X on Tuesday, after World Bank Country Director Abdoulaye Seck met him at the state guest house in Dhaka.

The bank is committed to increasing lending to Bangladesh this fiscal year to help the reform agenda of the interim government, the post added, quoting Seck.

Seck said that the reforms would be "critically important" for Bangladesh and its young people, including the 2 million people who are joining the job market every year, state news agency Bangladesh Sangbad Sangstha (BSS) quoted him as saying during the meeting.

The World Bank must have flexibility to fund Bangladesh's reforms and help restart a new journey after 15 years of "extreme misgovernance,” Yunus told Seck.

Nobel laureate Yunus took charge on Aug. 8 after former Prime Minister Sheikh Hasina fled in the face of a student-civilian uprising.