Bangladesh second largest borrower from IDA
September 18, 2008 00:00:00
FE Report
The World Bank (WB) Group extended loans, credits, grants, equity investments, and guarantees totalling over US$5.5 billion to South Asia in fiscal year 2008.
Within South Asia, Bangladesh was the second largest borrower with US$753 million (IDA), followed by Pakistan at US$545 million (IDA/IBRD), and Nepal at US$380 million (IDA), according to a WB press release issued Tuesday.
India was the largest borrower from IBRD and IDA, accounting for US$2.154 billion, or nearly 10 percent of total lending from these two institutions.
Contributing to this strong support to Bangladelsh was: US$1.491 billion from the International Bank for Reconstruction and Development (IBRD), which provides financing, risk management products and other financial services; US$2.756 billion from the International Development Association (IDA), which provides interest-free loans and grants; US$1.26 billion from the International Finance Corporation (IFC), which makes equity investments and provides loans, guarantees, and advisory services to private-sector business in developing countries; and US$36.6 million from the Multilateral Investment Guarantee Investment Agency (MIGA), the group's political risk insurance agency.