World Bank commits to mobilizing USD2B in financial assistance for Bangladesh
Date
9/18/2024 4:49:05 AM
(MENAFN) The World Bank has committed to mobilizing USD2 billion in new financial assistance for Bangladesh, aimed at supporting the transitional government’s reform agenda and enhancing the country's health and environmental conditions. Muhammad Yunus, the chief adviser to the transitional government, announced the pledge on X on Tuesday, following a meeting with World Bank Country Director Abdoulaye Seck at the state guest house in Dhaka.
Yunus stated that the World Bank plans to allocate approximately USD2 billion in fresh funding during this fiscal year to address crucial areas such as critical reforms, flood response, improved air quality, and health initiatives in Bangladesh. This commitment reflects the Bank’s dedication to bolstering Bangladesh's reform efforts and aiding the interim government's goals.
Seck highlighted that the reforms are of "critical importance" for Bangladesh and its burgeoning youth population, noting that approximately 2 million new job seekers enter the market each year. The reforms are expected to play a significant role in addressing the needs of these individuals and in fostering overall development.
Yunus emphasized the necessity for the World Bank to have the flexibility to support Bangladesh's reforms and to help the nation embark on a new path following 15 years of "extreme misgovernance." Yunus, a Nobel laureate, assumed his role on August 8, succeeding former Prime Minister Sheikh Hasina, who left office amid a student and civilian uprising.
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