Dhaka Saturday, May 18, 2024

Record in foreign loan disbursement
  • Staff Correspondent
  • 2020-07-15 21:03:54

Foreign loans of 727 crore dollars have been disbursed in the middle of the coronavirus pandemic which is highest in Bangladesh's history. It is equal to nearly 62 thousand crore taka. This money, which was disbursed in 2019-2020 fiscal year, is higher than the previous fiscal year by 11.16% while it is higher than the government's target by 2.39%.

The donor agencies disbursed 654 crore dollars for Bangladesh during 2018-2019 fiscal year. On the other hand, Bangladesh government aimed at disbursement of 710 crore dollars in 2019-2020 fiscal year.

Additional Secretary Pear Mohammad of Foreign Aid, Budget and Accounts Department of Economic Relations Division (ERD) told media that the implementation of annual development program was lower than intended in the immediate past fiscal year due to coronavirus pandemic.

He added that the donor agencies have disbursed such a big amount of money to cooperate with Bangladesh to deal with the outbreak of coronavirus.  According to ERD's updated report, the donor agencies disbursed 203 crore 46 lakh dollars in June of 2019-2020 fiscal year. Till May of 2019-2020 fiscal year, they disbursed 523 crore 73 lakh dollars.

 Pear Mohammad further said that International Monetary Fund (IMF), Asian Development Bank (ADB), World Bank and Asian Infrastructural Improvement Bank (AIIB) pledged to provide 73 crore 20 lakh dollars, 50 crore dollars, 25 crore dollars and 25 crore dollars respectively as budgetary aid to Bangladesh.

An analysis shows that Bangladesh got pledges of receiving 955 crore 44 lakh dollars help in the form of loans during 2019-2020 fiscal year. The pledged amount was 435 crore 79 lakh dollars till May. Commitment of 519 crore 65 lakh dollars came just in June. Bangladesh government paid back to donor agencies loans of  172 crore 62 lakh dollars in 2019-2020 fiscal year. Loans of 159 crore 28 lakh dollars were paid back in the previous fiscal year.

 

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