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Finance minister AHM Mustafa Kamal has sought support from the Islamic Development Bank, or IsDB, for the country’s health, food security and agriculture sectors to cushion the blow from the coronavirus pandemic.
The Islamic lender has assured the minister of extending its possible support after discussing with the Bangladesh authority.
The minister requested the president of the Jeddah-based lender Dr Bandar M. H. Hajjar at a teleconference on Saturday in Dhaka, the minister’s office said in a statement.
Mr Kamal briefed the IsDB chief about the Bangladesh government’s multiple initiatives on economic recovery. He sought the extended support from the lender during the conversation.
The statement said the minister requested the IsDB president to provide fresh support to food security, health services, and agriculture development and mechanisation sectors.
In response, the president said the bank’s team will sit together with Bangladesh side and finalise the financing and their timeline of disbursements.
The president said the IsDB is always with the people and the government of Bangladesh and will stand by them in future too.
Meanwhile, the finance minister thanked the IsDB president for its US$2.3 billion financial package to help the coronavirus-ravaged economies.
He said the Bangladesh government has already announced an $11.6 billion relief packages to help enterprises and businesses recover from the losses triggered by the pandemic-induced nationwide lockdown.
“So, they need huge investment from the external sources. At this moment, we need to ensure food security and rehabilitation of the affected people in Bangladesh,” Mr Kamal said.
Currently, Bangladesh government is implementing some 11 projects with financial support from the IsDB.
The finance minister had earlier talked with the World Bank vice president for South Asia and the ADB president and sought financial support to cope with the adverse impact of COVID-19 pandemic on the economy.
(FE)
