Bangladesh: Modernization of State Owned Financial Institutions Project

June 30, 2016

IDA Loan: US $150 million

Terms: Maturity = 38 years; Grace = 6 years

Project ID: P155363

Project description: The project will improve performance of the state-owned banks that together account for 30 percent of total banking sector assets by automating the business and transaction processes. The project will implement a modern IT infrastructure to support stronger cyber security, centralized processing, branch connectivity, an enterprise wide e-mail system, and ATM network, among others. The project will further help improve bank data quality, develop better financial reporting systems and strengthen internal resource management and control, including staff training.