DHAKA, February 22, 2017: The World Bank reiterates its continued support to Bangladesh during a meeting between Qimiao Fan, World Bank Country Director for Bangladesh, Bhutan and Nepal and Mr. AHM Mustafa Kamal, Honorable Minister of Planning. The Minister and World Bank Country Director discussed, in their regular meeting, the World Bank’s program delivery for the remainder of FY17, the last year of IDA17 cycle, and preparation for significantly increased financial support in the next three years under IDA18.
The credit from the World Bank’s International Development Association (IDA), which provides zero-interest loans, has a 38-year term, including a six-year grace period, and a service charge of 0.75 percent. Bangladesh is currently the largest recipient of IDA resources. World Bank also remains Bangladesh’s largest external development financier. Since Independence, the World Bank has committed over $24billion in grants and interest-free financing to Bangladesh.
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