Bangladesh has signed a $450 million financing agreement with the World Bank to strengthen the country’s financial sector safety net, enhance supervisory capacity and support restructuring of the banking sector.
The financing agreement under the ‘Financial Sector Support Project II’ was signed between the Government of Bangladesh and the International Development Association (IDA), the World Bank’s concessional lending arm, on October 30, reports BSS.
Economic Relations Division (ERD) Secretary Md. Shahriar Kader Siddiky and World Bank Division Director for Bangladesh and Bhutan Jean Pesme signed the agreement on behalf of their respective sides.
The project will receive 328 million Special Drawing Rights (SDR) equivalent to $450 million and will run from July 1, 2026, to June 30, 2031.
https://today.thefinancialexpress.com.bd/first-page/bd-wb-sign-450m-deal-on-financial-sector-reform-1793467940