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Bangladesh seeks $1b World Bank budgetary support 

Published : Friday, 23 August, 2024 at 12:00 AM  Count : 333
Business Correspondent
Muhammad Fouzul Kabir Khan, adviser for the Ministry of Power, Energy and Mineral Resources to the interim government, sought $1 billion from World Bank as budgetary support for Bangladesh.

"At present, the ministry owes $2.2 billion in import costs of power and energy," he said on Wednesday. 

Kabir met Abdoulaye Seck, World Bank country director for Bangladesh and Bhutan, who arrived at his office leading a four-member delegation, according to a press release.

Kabir mentioned that the interim government was formed with many pressing mandates.

"We have suspended activities under the much-criticised Quick Enhancement of Electricity and Energy Supply Act 2010 and suspended the government's power to set energy prices by ourselves without any public hearing on our first day," he said.

He added that initiatives have been taken to amend or abolish such acts after examination.

"From now on all public procurement rules will be followed," said Kabir.



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