Bangladesh received a loan of 900 million dollars from the World Bank. The World Bank has given this money as a loan to two projects to strengthen climate tolerant and sustainable growth, infrastructure development in urban areas, financial conditions and policies in the financial sector.

This information was reported in the World Bank’s press release on Friday (21 June). It is said that the Board of Executive Directors of the World Bank approved this loan on Friday.

Abdulai Sek, World Bank Country Director for Bangladesh and Bhutan, said, “Necessary reforms will help Bangladesh sustain growth and deal with climate change and other crises.”

He said, the new financing will help Bangladesh in two important areas. One of these is financial sector and urban management and the other is to achieve the target of upper middle-income countries.

The circular also said that $500 million is being given as the last installment of the two-tranche loan. It will accelerate sustainable development as well as reforms in the financial sector of Bangladesh. Apart from this, this loan will help to deal with any future calamities including climate change.