Dhaka, June 21 (V7N) – The World Bank has approved a $500 million budget support loan for Bangladesh, equivalent to approximately 6,000 crore taka. The approval came during a board meeting held at the World Bank headquarters in Washington on Saturday (June 21).

According to a World Bank press release, the funds will be utilized to enhance transparency, accountability, and stability in Bangladesh’s financial sector. Key areas of focus include reforming government revenue collection, increasing transparency in tax policy, strengthening risk management in the banking sector, and curbing corruption in government services through the introduction of e-procurement systems.

Earlier, the Asian Development Bank (ADB) approved a similar budget support loan of $500 million. Consequently, Bangladesh is expected to receive nearly $1 billion in budget support by June 30.

Furthermore, Bangladesh is anticipated to receive approval for two loan installments totaling $1.3 billion at the International Monetary Fund (IMF) board meeting scheduled for next Monday.

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