WB to give $1.7b this year

The World Bank is expected to commit as much as $1.7 billion this fiscal year, which is almost the same as in the last five years.

The Washington-based lender committed $1.7 billion in loans on average in the last five years. In fiscal 2014-15, it committed $1.92 billion.

Earlier this month, representatives of the WB met Finance Minister AMA Muhith and conveyed the lender's tentative commitment sum, said a finance ministry official.

It is likely to commit $1.3 billion to $1.7 billion and the exact figure would depend on the country's ability to utilise the fund, he said.

The WB has already identified six projects from its regular programme, where about $1.3 billion might be needed.

One of the projects is the pro-poor slum integration project with expected financing of $50 million. The programme involves building houses for slum dwellers in urban areas, according to the project documents.

The WB has already selected five municipal areas where the lodgings would be erected and they come with toilets, kitchen and electricity facilities, according to the project documents.

The lodgings would be provided with safe water through rain water harvesting or from tube wells.

Of the six programmes, there are three projects that will directly or indirectly improve trade in the sub-region of India, Nepal and Bhutan.

Bangladesh is now focusing on waterways for transporting goods and passengers.

Two of the big projects will directly improve inland water transport route alongside protecting the poor from river erosion.

The WB will provide $600 million to the River Management Improvement project that will provide protection against river bank erosion along the Brahmaputra and develop an embankment road.

The road is envisaged to become a major corridor linking parts of Bangladesh.

The corridor will reduce transport costs, improve accessibility and promote private sector participation in the management and operation of road infrastructure in Bangladesh.

Along with the development of the corridor, the overall programme will be the first step towards improving navigability of the river.

Another project is the 'regional connectivity 1 (border posts)', for which the WB will provide $60 million.

A WB team has already inspected a number of border posts in different areas of the country.

The border posts will be improved so that consignments from India, Nepal and Bhutan can quickly be transported from Bangladesh.

Another project -- the Inland Waterways Corridor -- that will cost $220 million is aiming for smooth transportation of goods inside the country and also the transit items.

Besides, the WB will finance $414 million in two power generation projects that will play a big role in increasing investment.