$1.08 billion could be added to Bangladesh’s dwindling forex reserves

Bangladesh could be getting $1.08 billion as loan from the Asian Development Bank (ADB) and the International Monetary Fund (IMF).

A senior official of the Ministry of Finance today told UNB that a loan proposal of $400 million for Bangladesh is expected to be placed at the ADB board meeting on 12 December.

On the same day, the IMF board meeting will decide on the proposal for a $681 million loan – second tranche of IMF’s $4.7 billion loan – for approval.

If both loan proposals are approved next week, $1.08 billion could be added to Bangladesh’s forex reserves.

This would bring relief to the foreign exchange shortage which is affecting import bill payments and required dollars to meet Bangladeshi citizens’ overseas education and treatment payments.

This article was originally published by a www.tbsnews.net . Read the Original article here. .