Bangladesh is on course to secure a $1.31 billion loan from various sources in December, as confirmed by Bangladesh Bank.
According to spokesperson Md Mezbaul Haque’s press release on Wednesday (December 13), the second tranche of $689 million from the $4.7 billion loan package will be accessible by next Friday. Additionally, Bangladesh anticipates receiving $400 million from the Asian Development Bank (ADB) this month, along with $90 million from South Korea and an extra $130 million from other funding sources.
Haque highlighted, “Following the BPM-6 manual, our foreign exchange reserves currently stand at $19 billion. These loan disbursements will significantly reinforce our reserves.” Addressing the impending substantial payment, Haque added, “A notable portion of our reserve will be allocated for ACU (Asian Clearing Union) import bill payment, with approximately one billion withdrawn from our reserve for this purpose in December.”
