BM Desk : Bangladesh will receive a loan from four international financial institutions totaling approximately 45,000 crore taka ($3.64 billion). The World Bank and the Asian Development Bank (ADB) have already authorized loans for this. Additionally, the Asian Infrastructure Investment Bank (AIIB) and the International Monetary Fund (IMF) will shortly provide money to it.

The World Bank has already authorized a 640-million-dollar loan that will be used to increase gas supplies and lower air pollution, according to Ministry of Finance sources. Additionally, the ADB is contributing 900 million dollars to the budget, of which 400 million dollars will be used to fight climate change and 500 million dollars will be used to overhaul the banking industry. It is now receiving 440 million dollars from the AIIB and 1.3 billion dollars from the IMF in June.

This sum might approach $25 billion if it is added to the nation’s foreign exchange reserves. In 2021, the reserves hit 48 billion USD, but they subsequently declined. There is currently $20.77 billion in the reserve.

According to the concerned officials, this loan assistance will be crucial in bolstering the nation’s reserves and stabilizing the dollar market. Furthermore, Ministry of Finance officials see it as an acknowledgement of the effective execution of the government’s development programs.

Banks are currently selling dollars at 122-123 taka, indicating that the dollar price has stabilized despite the market-based dollar rate.