Bangladesh is set to receive $2.2 billion in additional funding from several international organizations, including the World Bank, Asian Development Bank (ADB), Japan International Cooperation Agency (JICA), Asian Infrastructure Investment Bank (AIIB), and the OPEC Fund. This announcement comes alongside the approval of a $1.3 billion loan from the International Monetary Fund (IMF).
Bangladesh Bank Governor Ahsan H Mansur revealed these new fund inflows during a press briefing at the central bank headquarters in Dhaka. The IMF loan, scheduled for disbursement in June, represents the third and fourth tranches of the IMF’s $4.7 billion bailout package.
The IMF’s decision to release the $1.3 billion follows a successful fourth review of the loan program and key breakthroughs in discussions on exchange rate reforms. The funds had been held up as the IMF pressed for greater exchange rate flexibility, particularly the adoption of a crawling peg mechanism .
In addition to the IMF loan, the government expects budget support from development partners, including the World Bank, ADB, AIIB, JICA, and the OPEC Fund. These funds will play a crucial role in stabilizing Bangladesh’s economy and supporting its development initiatives.
Governor Mansur emphasized the importance of these funds in addressing the economic challenges faced by Bangladesh, particularly in light of global commodity price surges and the need for critical reforms in revenue management, fiscal policy, and the foreign exchange regime
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