Staff Reporter :
The World Bank (WB) on Monday announced $1 billion additional assistance to Bangladesh for reducing children malnutrition.
The fund will be provided to the country over the next two years.
WB President Jim Yong Kim made the pledge at a joint press briefing after holding a meeting with Bangladesh Finance Minister AMA Muhith at the Finance Ministry in the morning.
“The fund will be disbursed in the next two years to develop the situation of child health and nutrition,” he added.
Jim hoped Bangladesh will get the highest amount of assistance from the International Development Association (IDA) in the next two years as well.
“The WB has a fresh commitment of $72 billion as mostly soft loans from the IDA for different countries across the globe,” he added.
Kim also said that in the next three-year cycle the amount of WB loans will be increased globally to 15 per cent and Bangladesh will be one of the largest recipients of the increased loan.
In response to a query, WB President said that the global lender will instead spend the $1.2 billion (bridge funding) for climate related financing in Bangladesh.
The WB Chief also lauded Bangladesh for remarkable progress in poverty alleviation.
Finance Minister AMA Muhith at the press briefing stressed that the troubles with WB regarding Padma Bridge a few years ago is over. “Now we have good relations. We expect more assistance from WB,” he said.
The WB President arrived in Dhaka yesterday on a two-day visit to see firsthand the progress Bangladesh has made in transitioning successfully to a lower-middle income country.
He will participate in an event today (Tuesday).
The World Bank (WB) on Monday announced $1 billion additional assistance to Bangladesh for reducing children malnutrition.
The fund will be provided to the country over the next two years.
WB President Jim Yong Kim made the pledge at a joint press briefing after holding a meeting with Bangladesh Finance Minister AMA Muhith at the Finance Ministry in the morning.
“The fund will be disbursed in the next two years to develop the situation of child health and nutrition,” he added.
Jim hoped Bangladesh will get the highest amount of assistance from the International Development Association (IDA) in the next two years as well.
“The WB has a fresh commitment of $72 billion as mostly soft loans from the IDA for different countries across the globe,” he added.
Kim also said that in the next three-year cycle the amount of WB loans will be increased globally to 15 per cent and Bangladesh will be one of the largest recipients of the increased loan.
In response to a query, WB President said that the global lender will instead spend the $1.2 billion (bridge funding) for climate related financing in Bangladesh.
The WB Chief also lauded Bangladesh for remarkable progress in poverty alleviation.
Finance Minister AMA Muhith at the press briefing stressed that the troubles with WB regarding Padma Bridge a few years ago is over. “Now we have good relations. We expect more assistance from WB,” he said.
The WB President arrived in Dhaka yesterday on a two-day visit to see firsthand the progress Bangladesh has made in transitioning successfully to a lower-middle income country.
He will participate in an event today (Tuesday).
