Shawdesh desk:

President of the World Bank, Ajay Banga, has said that the bank would provide $3.5 billion to Bangladesh to support the interim government’s reform initiatives, including reforms in the financial sector.

The World Bank president announced the support during a meeting with Bangladesh chief adviser Prof Muhammad Yunus on the sideline of the UN General Assembly at the UN Headquarters on Wednesday afternoon (NY time).

Banga, a longtime friend of Professor Yunus, said at least $2 billion would be fresh lending and another $1.5 billion would be repurposed from the existing programmes.

World Bank would support reforms in digitisation, liquidity, energy and power and transport, said chief adviser’s press secretary Shafiqul Alam quoting the World Bank president.

During the meeting, Professor Yunus sought the World Bank support for the wide-range reforms the interim government had undertaken.

He asked the World Bank to be creative about its lending programme.

‘It is a big opportunity to rebuild the country,’ Professor Yunus said.

The World Bank president discussed the energy sector cooperation in South Asia and how hydroenergy produced in Nepal and Bhutan could be shared by neighbours such as India and Bangladesh.

Energy and power adviser Fouzul Kabir Khan was also present in the meeting.