World Bank Pledges $2 Billion to Support Bangladesh's Reforms and Recovery

The World Bank has committed an additional $2 billion in financing to Bangladesh this fiscal year. This funding will support critical reforms, flood response, better air quality, health improvement, and corruption recovery. The commitment follows a meeting between World Bank Country Director Abdoulaye Seck and interim government’s Chief Adviser Muhammad Yunus.

The World Bank announced on Tuesday that it could mobilize an extra $2 billion in financing for Bangladesh this fiscal year. This funding aims to support critical reforms, flood response efforts, better air quality, and health improvements in the South Asian nation.

World Bank Country Director Abdoulaye Seck made the commitment during his meeting with interim government's Chief Adviser Muhammad Yunus at the State Guest House Jamuna in Dhaka. Seck conveyed the bank's dedication to increasing its lending to Bangladesh to support the reform agenda of the interim government.

Seck's pledge comes shortly after USAID-Bangladesh committed $202.25 million to various developmental projects in the country. In addition, the World Bank plans to repurpose around $1 billion from its existing programs to address the country's urgent financial needs.

(With inputs from agencies.)