WB can provide $2b support to Bangladesh in current fiscal: Martin Raiser

The World Bank could come up with a little over $2 billion in support to Bangladesh in the current fiscal year (FY25), which would comprise budget support and assistance in important projects in health, energy and other sectors.

Martin Raiser, World Bank’s Regional Vice President for South Asia, said this after a meeting with Finance Adviser to the interim government Dr Salehuddin Ahmed at the Finance Division at Bangladesh Secretariat today.

Answering a question about the possible fresh support, Martin said the final decision would be taken by the Board of Directors of the World Bank.

“I can’t make comments right now on behalf of them and they would not appreciate that …what I can say that we’ve looked at what resources we can mobilize for Bangladesh from the funds which are available from IDA and we’re also looking at the figure around little more than $2 billion for this fiscal year which runs until June next year.”

Martin went on saying, “So, whenever the projects are ready that we’re discussing so that the money can be mobilized,”

The World Bank Vice President said some of the amount would be budget support for sure and some of that amount would be for important projects in the health, energy sectors and where funding needs.

In addition, Martin said Bangladesh has existing projects with an undisbursed balance of $9 billion. “A lot of these are important investments and some of this amount we might be able to re-propose for more urgent needs,”

So, the number of total support can go up a little bit more, he added.

Noting that this is an important time for the country, Martin said he was apprised by the Finance Adviser on economic reforms in the banking sector and on reforms for revenue generation.

“We discussed on what the World Bank might be able to do to support those efforts…we’ve have been a long-standing partner of Bangladesh from the very beginning,” he added.

Mentioning that Bangladesh is one of the lending agency’s closed and biggest clients, Martin said: “We want to continue that excellent partnership.”

Martin Raiser arrived in the capital yesterday on a two-day visit. (BSS)