Asian development bank (ADB) and World Bank has approved a $ 1.5 billion loan to improve its banking sector, to deal with climate change challenges and help other projects. This information was given in the media report on Friday. According to the report of the newspaper ‘The Daily Star’, ADB has approved a $ 90 million loan for Bangladesh, out of which $ 500 million will support efforts to improve and strengthen the banking sector of the country, while the remaining $ 400 million will promote the tips for climate change and promote inclusive development initiatives.
Asian Development Bank will give loan to Bangladesh in different stages
The Asian Development Bank said in a statement on Thursday that the objective of the $ 50 million policy-based loan is to strengthen the operation and the quality of the asset in the banking system of Bangladesh. In addition, ADB also approved a $ 400 million loan for the second phase of the Inclusive Development Program (CRIDP), dealing with the challenges of climate change. Its objective is to support Bangladesh’s efforts to deal with climate change challenges, cut carbon emissions and promote inclusive economic growth.
World Bank is giving loan to Bangladesh for which projects
Apart from ADB, on Thursday, the World Bank also approved a $ 64 million loan for 2 different projects with a view to increasing gas supply in Bangladesh and improving air quality. With the approval of Asian Development Bank and World Bank, Bangladesh will receive more than $ 1.5 billion. This will also reduce the pressure on Bangladesh’s foreign exchange reserves. Let us tell you that recently IFC and World Bank also approved a loan of $ 70 million for Pakistan. Apart from these, IMF has also given a loan of $ 1.02 billion to Pakistan.
Latest business news
