Tuesday, July 16, 2024

WB sticks to 5.8pc growth projection for outgoing FY

Warns factory accidents could moderate pace of RMG export growth The World Bank on Thursday stuck to its projection that the country’s GDP growth would be 5.8 per cent in the outgoing fiscal year despite the Bangladesh Bureau of Statistics’ estimate of 6.03 per cent and the finance minister’s hope of 6.3-6.8 per cent growth. ... Read more

WB gives $34.5m for digital public procurement project

International Development Association, the soft loan window of the World Bank, will provide Bangladesh with $34.5 million more funds for boosting electronic public procurement in the country. The fund will be used to scale up the electronic procurement (e-GP) and online procurement performance monitoring in key public agencies under the ongoing

Bangladesh not allowed to join global programme

The International Labour Organisation (ILO) and the World Bank (WB) have refused to let Bangladesh join a textile industry monitoring programme until the country overhauls its labour laws and conditions for unions improve, reports The Washington Post quoting a top ILO official. The strict stance by the ILO and World Bank, which jointly run the ... Read more

World Bank asks govt to restructure plans

The World Bank (WB) has asked the government to restructure the plans and review the parameters, including financing, performance contracts and timelines, of 13 problematic projects. In particular, the WB has asked the government to revise the plans and review the financing, performance contracts and timelines for completion of subprojects, and discuss with the Bank ... Read more

52,000 diploma students receive stipend

Around 52,000 diploma students from the 93 polytechnics institutions in the country have received stipends under the Skills and Training Enhancement Project financed by the World Bank. Nearly nine per cent of the stipend-recipient students are female. Out of the 93 polytechnics, 43 are public and 50 are private institutions, according to a World Bank ... Read more

Remittance flow to Bangladesh, Asia might be hit: WB

The indigenisation programmes being considered or implemented in the countries under Gulf Cooperation Council including Saudi Arabia have raised concerns of adverse implications for future remittances to migrant-sending countries including Bangladesh, said a World Bank report released on Thursday. ‘While the indigenisation may not affect remittances in the near-term, they highlight the

WB approves $172m for solar panels

The World Bank approved $172 million on Tuesday to support the ongoing rural electrification and renewable energy development (RERED) project to install an additional 630,000 solar home systems and other renewable energy mini-grid schemes in the country. The global lender is providing the credit to the RERED project, following the project’s success

Padma Bridge in a quagmire

WB freezes on short-listed questionable companies; govt seeks to know the names, move on without those The construction of Padma Bridge will face a long delay if the World Bank does not accept the government’s proposal to start the work soon without involving the firms accused of corruption. The proposal was made when WB Vice-President ... Read more

WB’s green light to Padma Bridge

Project to gather pace finally The World Bank has finally given the go ahead for the Padma bridge construction tender process with five pre-qualified firms, communications ministry officials said. The government sent documents of the five pre-qualified firms for the bridge construction job to the World Bank headquarters in Washington in January. The lead financier ... Read more

WB, IMF stop $500m loan

The World Bank and the International Monetary Fund have decided not to give the government over $500 million of budget support that they had planned to provide this financial year because of concerns over governance issues, including anti-corruption and telecom licensing, the World Bank has told New Age These two concessionary loans or credits, given ... Read more

WB okays $1.2b for Padma bridge

The World Bank has approved $1.2 billion concessional credit for the Padma Multipurpose Bridge Project. The much-expected approval was given at a board meeting of the bank, held Thursday at its headquarters in Washington DC, says a WB press release. The project, with an estimated cost of $2.9 billion, is expected to unlock the economic