Bangladesh to get over $1.5 billion in loans from ADB, World Bank
The Asian Development Bank (ADB) has approved a $900 million loan to help Bangladesh reform its banking sector and strengthen its resilience to the impacts of climate change.
Of the total, $500 million will support efforts to stabilise and reform the country's banking sector, while the remaining $400 million has been cleared to promote climate-resilient and inclusive development initiatives.
The $500 million policy-based loan aims to strengthen governance, asset quality, and stability within Bangladesh's banking system, the ADB said in a statement today.
On the same day, the World Bank (WB) also approved $640 million in loans for Bangladesh for two projects aimed at enhancing gas supply and improving air quality in the country.
With the ADB and WB approvals, Bangladesh is set to receive over $1.5 billion in financing at a time when the country has been grappling with foreign exchange shortages for more than two years.
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