The World Bank has announced it is evaluating the impact of the recent political turmoil in Bangladesh on its loan program with the country. The assessment comes in the wake of Prime Minister Sheikh Hasina’s resignation and departure, following violent crackdowns on protests that began over job quotas and evolved into demands for her removal.
The World Bank expressed sorrow over the violence and loss of life in Bangladesh, hoping for a swift and peaceful resolution. A spokesperson for the bank emphasized their commitment to supporting Bangladesh’s development goals despite the current instability. The bank’s board had recently approved two significant projects worth $900 million to enhance fiscal policies and urban infrastructure in Bangladesh, aiming for sustainable and climate-resilient growth.
The World Bank has been a key development partner for Bangladesh since its independence, contributing approximately $41 billion in grants and interest-free credits to support the country through various challenges. For the fiscal year 2024, the bank’s total commitments to Bangladesh stood at $2.85 billion.
As the situation unfolds, the World Bank remains dedicated to assessing and adapting its support to meet the evolving needs of Bangladesh while ensuring that development efforts continue to align with the country’s aspirations for progress and stability.