Bangladesh second largest borrower from IDA
Thursday, 18 September 2008
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.
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.