The World Bank (WB) will provide $1 billion for financial reforms in Bangladesh.
The World Bank board is expected to approve the loan by next December, but Bangladesh will have to fulfil three conditions to get it
Husne Ara Shikha, executive director and spokesperson of Bangladesh Bank, revealed this information on Sunday (September 15).
She said that of the $1 billion World Bank loan, $750 million will be provided as a policy-based loan and $250 million as an investment loan and guarantee facility.
The World Bank board is expected to approve the loan by next December, but Bangladesh will have to fulfil three conditions to get it.
The central bank said Bangladesh will have to comply with the conditions of forming asset management companies in the private sector, redefining default loans according to international standards, and presenting the report of the newly formed taskforce audit firm to the World Bank.
