Talks ongoing with World Bank for additional $10b in assistance: Finance minister
Amir Khosru Mahmud Chowdhury says discussions may continue for several months, with no final decision yet.
Bangladesh is in talks with the World Bank to secure an additional $10 billion in assistance, with discussions likely to continue for several months, Finance Minister Amir Khosru Mahmud Chowdhury has said.
No final decision has been made on the proposed assistance, as discussions with the global lender are still underway, he said.
The finance minister made the remarks while speaking to journalists after a meeting with the World Bank's managing director in Bangkok, Thailand, today (13 October).
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"There is no decision being made here. This is a discussion. There will be a follow-up based on these discussions. It is a process that will continue over the next few months," Amir Khosru said.
He said the discussions were laying the groundwork for future steps and possible decisions by both sides. Talks would also continue in Dhaka, he added.
The minister expressed satisfaction with the progress of the discussions, saying the World Bank was aligned with Bangladesh's economic policies, programmes and medium- and long-term development plans.
He said the lender also supported the government's efforts to restore economic stability and help the country recover from its current economic difficulties.
"When the current government took office, the country's economy was in crisis. Alongside various liabilities inherited from the previous period, we are also having to deal with the economic disruptions caused by ongoing wars around the world," he said, adding that the World Bank understood these challenges.
"The World Bank is very keen to stand by Bangladesh. It fully agrees with the policies we have adopted, as well as the economic programmes and future course we have set after restoring economic stability," the finance minister said.
Amir Khosru said discussions were also underway on a partnership framework with the World Bank. Bangladesh had submitted a written proposal, while the lender had provided recommendations and advice. Bangladesh had also presented its own proposals, he added.
Asked about the World Bank's and the Asian Development Bank's (ADB) forecasts for inflation and GDP growth, the minister said the government did not intend to dispute projections made by other organisations.
He said the institutions had prepared their forecasts based on their own calculations and analyses.
The government, meanwhile, was working to achieve the economic targets set in the national budget and hoped to meet the projections outlined in it, he added.
