a year ago

Bangladesh bags highest $6.79 billion foreign aid in nine months

Jul-Mar debt servicing also swelled to $1.59b

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Bangladesh received a record $6.79 billion in foreign aid in the first three quarters of the current financial year, up 55 per cent from last fiscal's, officials say.

In the past fiscal year (FY) 2020-21, external development partners released $4.38 billion worth of assistance during the July-March period.

The increased concessional-aid inflow comprised the record- highest fund disbursement by the Asian Development Bank and the Japan government, Economic Relations Division (ERD) officials said Saturday.

Out of the total amount of $6.79 billion, according to ERD data, the ADB alone supplied $1.91 billion and Japan $1.57 billion.

Besides, the largest multilateral development partner-the World Bank-also disbursed $834.55 million while Russia $971 million during the period under consideration.

The partners also confirmed a significant amount of medium- to long-term loans and grants by signing deals worth $5.43 billion.

A senior ERD official said aid supply swelled for impressive funds from the second-largest multilateral partner, ADB, the largest bilateral donor, Japan, and some other donors in the first quarter.

"We are expecting more than $9.0 billion of total foreign assistance at the end of FY 2021-22," he added.

Out of the aid disbursed so far in the current fiscal, Dhaka received $6.61 billion in loans and $180.81 million in grants.

The external development financiers made a commitment for $5.43 billion in the first nine months of FY22, up $1.42 billion from the same period in FY21.

Of the commitment, they confirmed $5.26 billion in loans and $166.37 million in grants.

Bangladesh's debt servicing swelled during the July-March period as the country paid $1.59 billion.

Out of the repayment sum, $1.18 billion has been paid as principal amount and $411.65 million as interest for the outstanding loans.

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