The World Bank will provide $100 million to Bangladesh to help the country take preventive measures in the face of global coronavirus pandemic.
The Economic Relations Division (ERD) forwarded a proposal to the WB for the fund following a request from the health ministry as the government seeks to contain the virus in the country.
The ERD sent the proposal to the WB yesterday and the bank informally assured the government of the fund, Md Shahabuddin Patwary, additional secretary of the ERD, told The Daily Star.
“I hope we will receive a response regarding the fund within a week and the fund will be provided under a fast-track package,” he said.
“In Bangladesh, the World Bank has received a request from the ministry of finance for $100 million financing and we will work with the government to process the request,” said Mercy Tembon, the WB’s country director for Bangladesh and Bhutan.
Globally, the WB Group has made available an initial package of up to $12 billion in immediate support to assist countries coping with the health and economic impacts of the COVID-19 pandemic.
Normally a mission visits Bangladesh and conducts a feasibility study on projects before giving approval to a fund. But this time is different as an emergency situation is prevailing in Bangladesh since a few coronavirus-infected patients have been detected, according to Patwary.