ISLAMABAD, AUGUST 6: We mourn the violence and tragic loss of life that has taken place in recent weeks in Bangladesh,” the World Bank stated. Washington: After Bangladesh’s Prime Minister Sheikh Hasina quit and left, the World Bank announced on Monday that it was evaluating how the current situation might affect its loan agreement with that nation.
Following a crackdown on rallies that started as protests against preferential job quotas and turned into a movement calling for Hasina’s removal, hundreds of people died. This led to Hasina’s resignation.
“We pray for a speedy and peaceful conclusion and lament the violence and terrible deaths that have occurred in Bangladesh in recent weeks. A World Bank representative stated, “We are evaluating how the current events may affect the World Bank Group program, and we are still committed to assisting the development goals of the Bangladeshi people.
In June, the board of the World Bank authorized two projects worth a combined $900 million to support Bangladesh in fortifying its financial and fiscal policies as well as enhancing its urban infrastructure to guarantee climate-resilient and sustainable growth.
One of the earliest development partners to assist Bangladesh after its independence was the World Bank. Since then, the bank has given the disaster-prone nation grants and interest-free credits totaling around $41 billion. According to the World Bank Group’s website, as of June 30, 2024, the bank had $2.85 billion in total commitments in Bangladesh.
