Bangladesh has signed a deal with the aim of obtaining $ 250 million Development Policy Credit (DPC-2) from the World Bank.
Fatima Yasmin, secretary to the Economic Relations Division (ERD) under the Ministry of Finance, and Mercy Tembon, country director of the World Bank's Dhaka office, signed the deal on Sunday.
The loan given under IDA Blend Terms to be repaid in 30 years with five years of grace period.
The loan will have an interest rate of 1.25 percent along with a 0.75 percent service charge for the outstanding amount.
The government has taken initiatives to reform and modernize some policies/regulations that are conducive to the involvement of various ministries/divisions/agencies of the government, including creating adequate and quality employment opportunities and environment for the working population of the country.
To implement the government's initiative and the proposed reform plan, the WB has agreed to provide a total of $750 million in 'Development Policy Credit (DPC)' loan.
As part of this DPC support , the WB has provided$ 250 million in FY 2018-19 and has agreed to provide $ 250 million in budget support in FY 2019-20 under DPC-2.
