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Bangladesh solicits $500m from World Bank to contrive budget


  • National
  • Bangladesh News Desk
  • Published: 06 Apr 2021, 04:59 PM

Finance Minister AHM Mustafa Kamal has sought $500 million in loans from the World Bank to help the south Asian nation implement its budget.

The assistance will be used to educate female students with science and ICT knowledge and in educational projects for their stipend as part of efforts to increase women's participation in the workforce, he said.

It will also be used in the government's efforts to recover from the fallouts of the ongoing Covid-19 pandemic, the minister added.

He made the call in a virtual meeting yesterday with the officials of the global lender, who joined the event from Washington, the finance ministry said in a press statement today.

The World Bank has assured the minister of taking the issue into consideration positively, according to the statement.

The virtual event held on April 5 was organised as part of the ongoing Spring Meetings 2021 of the World Bank Group, where Kamal led the Bangladesh team and World Bank's Vice President for South Asia Hartwig Schafer led the WB team.

In the programme, the finance minister lauded the WB for the timely measures it took to fight the Covid-19 contagion.

He also thanked the international lender for extending its support to Bangladesh under the Programmatic Jobs Development Policy Credit project and for the $500 million fund for Covid vaccines.

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