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The World Bank is lending 300 million dollars to Bangladesh

  • Financial
  • Lead News
  • 08 August, 2022 16:07:52

Photo: Collected

News desk: The World Bank is giving 300 million dollar loan to keep the situation of the urban areas normal for the current situation and future crises of the country. The money will help local institutions in the city to cope with the Covid-19 pandemic and future shocks.

The Economic Relations Department (ERD) signed a loan agreement with the World Bank on Sunday (August 7). Country Director Marcy Tembon and ERD Secretary Sharifa Khan signed the loan agreement on behalf of the organization.

According to the World Bank, a loan agreement of 300 million US dollars was signed between Bangladesh and the World Bank on Sunday. The amount of money in Bangladeshi currency is about two thousand 760 crores (92 taka per dollar).

The organization also said that a total of 39.9 million people in eight divisions including urban areas will benefit through this project. It will help recover from pandemics and prepare for future shocks, including climate change, disasters and disease outbreaks.

In addition, 329 municipalities and 10 city corporations will receive bi-annual funds from the project to improve critical urban services and infrastructure for mitigating and warning against climate change impacts, disasters and future disease outbreaks.

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