The World Bank is assessing the impact of events in Bangladesh on its loan programme with the country after Prime Minister Sheikh Hasina resigned and fled, the Financial Express reported.
Bangladesh Prime Minister Sheikh Hasina resigned and left the country after about 250 people were killed in protests that began over a government job quota system and morphed into a movement demanding her resignation.
“We mourn the violence and tragic loss of life that has occurred in recent weeks in Bangladesh, and hope for a swift and peaceful resolution,” a World Bank spokesperson said. “We are assessing the impact of the unfolding situation on the World Bank Group’s program and remain committed to supporting the development aspirations of the people of Bangladesh.”
It is noteworthy that the World Bank Board of Directors approved last June two projects worth $900 million to help Bangladesh strengthen financial and monetary sector policies and improve urban infrastructure to ensure sustainable and climate-resilient growth.
According to the World Bank’s website, its group’s total commitments in Bangladesh amounted to $2.85 billion in fiscal year 2024, which ended on June 30.
Standard debt
The World Bank disbursed the highest amount of loans as a foreign lender to Bangladesh for various projects in the last fiscal year, the Economic Relations Department of the Bangladeshi Ministry of Finance was quoted as saying by Financial Express.
The department said in a recent report that the Asian Development Bank disbursed the second-highest loan value, totaling $2.13 billion, while Japan had the third-highest loan value, $1.91 billion, this year.
Russia and China came in fourth and fifth place in foreign loan disbursements, issuing $1.3 billion and $390 million, respectively.
Meanwhile, India disbursed $297.9 million and the Asian Infrastructure Investment Bank disbursed $644 million.
Other countries and organizations also provided $1.053 billion in the last fiscal year.
