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World Bank assures Dhaka of policy-based lending

| Updated: March 21, 2022 08:48:31

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A World Bank (WB) director on Wednesday assured Bangladesh of providing more policy-based loans like budgetary support for infrastructure development, officials said.

Currently, the WB is providing Bangladesh some policy-based loans and budgetary support to facilitate ensuring the country's macro-economic stability and minimising national budget financing gap.

At a meeting on Wednesday, Guangzhe Chen, the visiting WB regional director for infrastructure (South Asia Department), said the agency would support Bangladesh for upgrading the sub-regional transportation system, and it is also interested to offer policy-based loans.

The visiting WB director sat with the Economic Relations Division (ERD) officials for reviewing the ongoing transport sector projects and the pipeline ones in Dhaka.

The Washington-based global lender is currently providing financial assistance to Bangladesh in developing different sectors, including infrastructure, energy, power, education, and rural development.

A senior ERD official said the WB assured of facilitating the Bangladesh, Bhutan, India, Nepal (BBIN) transport corridor, national road safety project, energy sector development, and livable Dhaka city project.

The official noted that the entity already assured Bangladesh of providing a significant amount of assistance for the BBIN corridor, and some other projects - to facilitate regional connectivity.

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