No final decision on $10bn assistance: Finance Minister

The World Bank is ready to provide necessary support to Bangladesh as the government works to restore economic stability and implement its development plans, Finance Minister Amir Khasru Mahmud Chowdhury has said.

However, no final decision has been made on an additional $10 billion in assistance.

The minister made the remarks while speaking to journalists after a meeting with a World Bank managing director in Bangkok, Thailand, on Tuesday (October 13).

He said the World Bank was in agreement with the government's economic policies and plans to address the country's current economic challenges and pursue medium- and long-term development goals.

Khasru said the government inherited an economy facing significant difficulties, including the burden of previous obligations and the impact of ongoing global conflicts. The World Bank understands these challenges and supports the policies adopted to address them, he added.

Asked about reports that Bangladesh had sought an additional $10 billion from the World Bank, the minister said discussions were ongoing and no final decision had been made.

He said the talks would continue over the next few months, with further discussions also scheduled in Dhaka. The current discussions should not be treated as a final agreement, he added.

Khasru expressed satisfaction with the progress, saying both sides had reached a common understanding on the government's economic policies, programmes and medium- and long-term plans.

The minister said Bangladesh had submitted a written proposal on a partnership framework with the World Bank. Both sides had made recommendations, and discussions were continuing to establish a basis for future cooperation.

He added that the government's economic plans were aligned with the BNP's election manifesto and that the two sides were discussing ways to address economic challenges and achieve development targets.

On inflation and GDP growth forecasts issued by the World Bank and the Asian Development Bank, Khasru said the government did not intend to dispute the projections made by the institutions.

He said the government was working to meet the economic targets set in the national budget and remained hopeful of achieving its inflation target.

The minister expressed hope that continued cooperation with the World Bank would help restore economic stability and implement the government's planned programmes.

-EM/SA