B Mirror Report: Bangladesh is in discussions with the World Bank to secure an additional $10 billion in financial assistance, with a final decision likely to take several more months, Finance Minister Amir Khasru Mahmud Chowdhury said on Tuesday.

Speaking to journalists after a meeting with the World Bank’s managing director in Bangkok, Thailand, on October 13, the minister said discussions were ongoing and no decision had yet been reached.

He said the talks were laying the groundwork for future decisions and outlining the responsibilities of both sides. Discussions would continue in Dhaka as well.

Expressing satisfaction with the progress of the talks, Amir Khasru said the World Bank was aligned with Bangladesh’s economic policies, programmes and medium- and long-term development plans.

He added that the global lender supported the government’s efforts to restore economic stability and address the country’s current economic challenges.

The minister said the government had inherited an economy facing significant difficulties and was also dealing with the economic fallout from ongoing global conflicts, alongside liabilities from previous periods.

He said the World Bank was willing to support Bangladesh in restoring stability and shaping its future economic policies.

Discussions are also underway on a partnership framework between Bangladesh and the World Bank. According to the minister, Bangladesh has submitted a written proposal, while the bank has provided recommendations and suggestions.

Asked about the World Bank’s and Asian Development Bank’s forecasts for inflation and GDP growth, he said the government did not intend to challenge the projections, noting that the institutions had based their forecasts on their own calculations and analyses.

He added that the government was working to achieve the economic targets set in the national budget and remained hopeful of meeting its projections.