ADB Provides hugh aid-package To Bangladesh For Economic Recovery, Policy Reforms
The Asian Development Bank (ADB) and the Government of Bangladesh Tuesday signed four agreements for a total of 744 million US dollar (3,72 milliarder DKR) in loans to help the Government in Dhaka overcome the impact of the global economic crisis and implement public policy reforms.
Out of the 744 million, a 500 million dollar loan under the countercyclical support facility (CSF) will support the governments efforts to mitigate the worst effects of the global economic recession in the short term and to continue its development programs.
Three other loans totaling 244 million dollar under the public expenditure support facility (PESF) will support government measures to introduce economic and social policy reforms essential for achieving higher and more inclusive long-term growth and strengthening social-safety-net program.
The ADB Bangladesh Country Director said the 744 million loan would be disbursed within this financial year 2009-2010. The 500 million credit will have to be repaid within five years with a three-year grace period.
Kilde: www.worldbank.org
