World Bank to give Bangladesh $6 bn credit

Dhaka, April 21 (IANS) The World Bank has pledged to give $6 billion in credit to Bangladesh over the next three years.

The announcement came after Finance Minister AMA Muhith held a meeting with the global bank's Vice President for South Asia Region, Annette Dixon, at its Washington D.C. headquarters on Thursday on the sidelines of the Spring Meeting of the World Bank Group.

Dixon said the World Bank would provide the money to the country in three instalments of $2 billion each in every fiscal year from 2017-18 to 2019-20, Muhith told bdnews24.com.

Muhith said the previous three-year loan package of the World Bank is ending in June. The World Bank had pledged to give $4 billion from 2014-15 to 2016-17 financial year, he said.

The minister said the World Bank also pledged funds, as part of a global programme, to help Bangladesh rehabilitate the refugees from Myanmar. 

"(But) they did not say how much they will provide," he added.

Muhith said Dixon was happy with Bangladesh's economic progress.