Govt negotiating with WB for credit under new format

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The government is now negotiating with the World Bank (WB), which has declined further lending under the Development Support Credit (DSC), for its support to development activities under a new format, reports UNB.
"In future, probably there will be no (World Bank) support in the name of DSC. The WB will rather extend support sector-wise or under new programmes or combination of both," Finance Adviser Mirza Azizul Islam told reporters after a meeting with WB country director Xian Zhu Tuesday.
"The support will come under the International Development Association (IDA)," he said.
The said the WB chief praised the proposed budget for making some adjustments in various sectors, but said the overall protection picture is still unchanged.
On the other hand, talking to reporters after the meeting, the WB country director said the dependency of the budget on aid would be reduced if the country's economy grow in a sustainable manner.