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WB And ADB Extends Aid for Bangladesh Financial Sector Reforms

Economic Tag: Foreign Aid

The World Bank and Asian Development Bank (ADB) have extended support to Bangladesh amid economic challenges. The World Bank emphasizes financial sector reforms for economic development, having provided around $52 billion in financial assistance to Bangladesh, with an additional $16 billion recently pledged.

The ADB anticipates stabilization of Bangladesh’s foreign exchange reserves, citing improved balance of payments. ADB Country Director highlights the importance of private sector confidence in resolving the reserve crisis and urges a focus on a conducive investment environment. Despite short-term possibilities, he emphasizes the need to attract more foreign direct investment for long-term stability. The finance minister underscores efforts to overcome challenges, boost private sector confidence, and coordinate monetary and fiscal policies.

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