World Bank Reevaluates Loan Program Amid Bangladesh Turmoil

The World Bank is reassessing its loan program in Bangladesh following the resignation and flight of Prime Minister Sheikh Hasina. Hasina's departure was prompted by deadly protests demanding her resignation. The bank remains committed to supporting Bangladesh despite recent upheaval, having approved significant projects and committed billions in aid over the years.

The World Bank announced on Monday that it is reevaluating its loan program with Bangladesh in the wake of Prime Minister Sheikh Hasina's resignation and subsequent departure from the country.

Hasina's decision came after mass protests, initially sparked by opposition to preferential job quotas, which escalated and resulted in hundreds of deaths. The World Bank has expressed sorrow over the violence and stated its commitment to aiding Bangladesh in its development aspirations.

In June, the bank's board approved two projects worth $900 million to strengthen the country's fiscal policies and urban infrastructure. The World Bank has been a key partner for Bangladesh since its independence, with a total commitment of around $41 billion. As of fiscal year 2024, the bank had $2.85 billion committed to various projects in the nation.

(With inputs from agencies.)