IMF says it is fully committed to BD after Hasina ouster
Published : Wednesday, 7 August, 2024 at 12:00 AM Count : 392
LONDON, July 6: The International Monetary Fund said it was "fully committed to Bangladesh and its people" after protests ousted the prime minister.
The Fund, which approved a $4.7 billion loan programme with the country in January 2023, said it was "deeply saddened by loss of lives and injuries," but would continue to "support efforts to ensure economic stability and deliver inclusive growth".
Bangladesh was awaiting an interim government on Tuesday, a day after Prime Minister Sheikh Hasina resigned and fled the country following student-led protests that left hundreds dead.
The WB on Monday said it was assessing the impact of events in Bangladesh on its loan program with the country after its Prime Minister Sheikh Hasina resigned and fled.
Hasina's exit came after hundreds of people were killed in a crackdown on demonstrations that began as protests against preferential job quotas and swelled into a movement demanding her downfall.
"We mourn the violence and tragic loss of life that has taken place in recent weeks in Bangladesh and hope for a swift and peaceful resolution. We are assessing the impact of the unfolding situation on the World Bank Group program and remain committed to supporting the development aspirations of the people of Bangladesh," a spokesperson for the bank said.
The World Bank's board in June approved two projects totaling $900 million to help Bangladesh strengthen fiscal and financial sector policies and improve urban infrastructure to ensure sustainable and climate-resistant growth.
The World Bank was among the first development partners to support Bangladesh following its independence. Since then, the bank has committed about $41 billion in grants and interest-free credits to the disaster-prone country. —Reuters
