World Bank to give Bangladesh $18b IDA loans in next five years
Inflows of foreign assistance will continue to go up, with Bangladesh receiving $18 billion from the World Bank’s soft loan window International Development Association (IDA) alone in the next five years. The Washington-based lender will provide the country with fresh loans amounting to $10 billion – $2 billion a year – during the time and will also release $8.24 billion in the pipeline, according to a draft of the Country Partnership Framework (CPF) programme for FY23-FY27.Moreover, its sister organisation International Finance Corporation (IFC) will finance $4.5 billion for the private sector development, while the Multilateral Investment Guarantee Agency (MIGA) will give guarantees of $695 million a year for external loans in energy and manufacturing sectors.Bangladesh got $11.83 billion during FY16-FY22 – $1.67 billion per fiscal year on average – from the IDA under the Country Assistance Strategy, the most important country-level document tailored to guide the World Bank Group’s support to a member country as per the needs.The loan tenure was initially up to FY20 and later was extended to FY22 because of Covid-19. In FY11-FY15, the IDA provided the country with $6.1 billion in soft loans, $1.22 billion a year.
Govt to get back loan money for Padma Bridge by 2057
Road transport and bridges minister Obaidul Quader on Monday said the loans taken for the construction of Padma Bridge would be repaid by 2057 through collecting tolls. Prime minister Sheikh Hasina inaugurated the 6.15 kilometers Padma Bridge on June 25 connecting south-western districts with Dhaka. Besides, in response to another question, railway minister Nurul Islam Sujan said that the cost per passenger per kilometer of the railway is Tk 2.43 and the income is Tk 0.82. On the other hand, the cost per tonne of transporting goods is Tk 7.94 per tonne and the income is Tk 3.18. The minister presented the revenue and expenditure information on the basis of the railway costing profile prepared for the 2016-17 financial year. He presented the revenue figures of Railways for the last 5 years (FY 2016-17 to FY 2020-21). According to the information of the minister, in 5 years it has carried 361.7 million passengers and 28 million tonnes of cargo.
Ansar-VDP Unnayan Bank MD reappointed
Md. Mosaddake-Ul-Alam joined Ansar-VDP Unnayan Bank as Managing Director on Monday for another term, said the bank in a statement. The Financial Institutions Division under the Ministry of Finance issued a circular on June 13 appointing him to the post again on a contractual basis for a period of two years with effect from June 27 2022 or the date of joining. Mosaddake-Ul-Alam joined Ansar-VDP Unna-yan Bank as managing director on November 14, 2019 on his being promoted to the post.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|Nikkei 225||$ 26,914.75||↑43.48||↑0.16%|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 110.80||↑1.23||↑1.12%|
|Crude Oil (Brent)||$ 116.47||↑1.38||↑1.20%|
|Gold Spot||$ 1,826.33||↑3.48||↑0.19%|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 92.9500|
|GBP 1||BDT 114.0125|
|EUR 1||BDT 98.1366|
*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<
* Exchange Rates are taken from BB website, as on latest update.<