WB to give $1.3bn in annual budget assistance
Tuesday, 24 June 2008


The World Bank will give Bangladesh $1.3 billion in annual budget assistance for the next three fiscal years, said the WB's regional vice-president for South Asia Praful Patel on Monday.

The lending agency had taken the decision in the wake of natural disasters in Bangladesh, caused by climate change, Patel told reporters after a meeting with finance adviser AB Mirza Azizul Islam in his office.

The assistance will come in budget assistance, the WB official said.

Abnormal hikes in the prices of fuel, fertiliser and foods on the international market affected Bangladesh as much as many other countries, he said.

Natural disasters triggered by climate change turned out to be a big challenge for Bangladesh, the WB vice-president said.

After the meeting, Mirza Aziz said he had sought help from Patel to ensure that Bangladesh gets a share of a fund meant for the countries affected by climate change.

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