WB approves $476m for two projects
Sunday, 7 June 2015
The World Bank has approved a total of $476 million for two projects in Bangladesh to develop a strong financial sector and to improve agricultural productivity for one million poor farmers. The projects approved by the Bank’s Board of Executive Directors are $300 million for the Financial Sector Support Project and $176.06 million for the Second National Agricultural Technology Programme. The credits are from the International Development Association (IDA), the World Bank’s concessional lending arm. They have 38 years to maturity with a 6-year grace period and carry a service charge of 0.75 per cent, said a press release.