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Bangladesh is holding discussions with the World Bank to secure an additional US$10 billion in financial assistance, but no final decision has been made, Finance and Planning Minister Amir Khosru Mahmud Chowdhury said on Tuesday.
The discussions and related procedures could take several more months to complete, he told reporters after a meeting with the World Bank’s managing director in Bangkok, Thailand.
“There is no decision being made here. This is a discussion. Based on these discussions, we will take the next steps. It is a process that will continue over the next few months,” he said.
The minister said the talks would help both sides determine the way forward and establish a basis for possible decisions. Discussions would also continue in Dhaka, he added.
Expressing satisfaction with the progress, Amir Khosru said the World Bank shared a common understanding with Bangladesh on its economic policies, programmes and medium- and long-term development plans.
He said the multilateral lender also supported the government’s policies aimed at restoring economic stability and addressing the country’s current economic challenges.
The economy was facing a crisis when the present government took office, he said, adding that it had inherited various liabilities and was also dealing with disruptions caused by ongoing wars around the world.
The World Bank understood these challenges and had shown strong interest in supporting Bangladesh, he said.
“The World Bank is very keen to stand beside Bangladesh. It fully agrees with the policies we have adopted, as well as the economic programmes and future course we have outlined after restoring economic stability,” he said.
The minister said discussions were also underway on a partnership framework between Bangladesh and the World Bank.
Bangladesh had submitted a written proposal on the framework, while the World Bank had offered recommendations and suggestions. The government had also presented its own proposals, he added.
Asked about the inflation and gross domestic product (GDP) growth projections made by the World Bank and the Asian Development Bank (ADB), Amir Khosru said the government did not intend to challenge forecasts prepared by other organisations.
He said the institutions had developed their projections based on their respective calculations and analyses.
The government was working to meet the economic targets set in the national budget, and he expressed optimism that the projections could be achieved.
