The World Bank will provide Bangladesh with a loan of $3.5 billion on easy terms to assist in the implementation of the interim government's reform initiatives.

This announcement was made by World Bank President Ajay Banga during a meeting with Dr. Muhammad Yunus, the Chief Advisor of Bangladesh's interim government, on the sidelines of the UN General Assembly at the UN headquarters in New York.

This information was conveyed by the Chief Advisor's office.

According to Bangladesh’s state news agency BSS, discussions took place between them yesterday, Wednesday, at noon local time in New York.

Ajay Banga, a long-time friend of Dr. Yunus stated that at least $2 billion of the loan from the World Bank will be new funding, while an additional $1.5 billion will be repurposed from existing programs.

The President of the World Bank stated that the bank will provide this loan to assist with digitalization, overcoming liquidity crises, and reforms in the energy, electricity, and transport sectors.

During the discussions, Dr. Yunus requested the World Bank's support for the interim government's extensive reform program. He called for innovation in the World Bank's loan programs, stating, "This is a great opportunity for the country's reconstruction."

The President of the World Bank discussed cooperation in the energy sector in South Asia and how hydropower produced in Nepal and Bhutan can be shared with neighboring countries, including India and Bangladesh.

Present during their discussions was Muhammad Fauzul Kabir Khan, Advisor on Power, Energy, and Mineral Resources.

—