World Bank's $500 million loan for financial sector reforms

The World Bank will give $500 million loan to Bangladesh for reforms in the revenue and financial sector and upliftment of the living standards of the poor.

Of the amount, $250 million will be released this year.

The interest rate for the loan will be 1.75 per cent, including service charge.

The tenure of the loan will be 30 years and the grace period will be 5 years.

Fatima Yasmin, secretary of the Economic Relations Division (ERD), inked the deal with Mohammad Anis, acting country director of World Bank's Dhaka office, signed a deal in this regard at the ERD in the capital.