The World Bank has announced a Dollar 9300 crore special assistance package for low-income countries to address the Corona crisis. The fund has been set up under the auspices of the International Development Association (IDA). This information was given in a press release of the World Bank last Friday (December 17, 2021).
If the exchange rate is Tk. 86 per dollar, then the size of the fund in Bangladeshi currency is about Tk. 8 lakh crore. Which is about Tk. 2 lakh crore more than the current budget of Bangladesh 2021-22. The size of the country's budget for the current financial year is Tk. 6 lakh 3 thousand 681 crore.
The World Bank says that although a low-middle-income country, Bangladesh as a member of the IDA can receive funding from this fund. From 2022 to 2025, the low-income IDA member countries will receive this money. Funding will be provided from the fund to help poorer countries cope with the Corona risk and ensure sustainable development. The formation of the fund was announced by the World Bank after a two-day meeting held at the initiative of Japan. World Bank officials took part in the virtual meeting.
According to the World Bank, the fund is the largest in IDA's 61-year history. On funding, David Malpas, President of the World Bank Group, said: We are grateful to the partners for their confidence in IDA in improving the quality of life of poor people around the world and in meeting post-Corona development challenges. "
According to the World Bank, 74 poor countries will receive assistance from this IDA fund. 48 high and middle income countries of the world are providing dollar 2350 crore to this fund. Although 74 countries received this financial assistance, about 70 percent of the funds will go to different countries of the African continent. The World Bank said the fund would help donor countries better prepare for future crises, including epidemics, financial shocks and natural disasters. According to the World Bank, the funds will help ensure the health and treatment of 40 crore poor people around the world. 37 crore people will be given social security protection.
Source: Online/SZK
Comment Now