UN Headquarters, NY, Sep 26 - World Bank President Ajay Banga announced today that the bank will provide $3.5 billion to Bangladesh to support the Interim Government's reform initiatives. This commitment was made during a meeting with Bangladesh’s Chief Adviser, Professor Muhammad Yunus, on the sidelines of the UN General Assembly.

Banga, a long-time friend of Professor Yunus, confirmed that at least $2 billion would be fresh lending, while $1.5 billion would be repurposed from existing programs. He emphasized the World Bank's focus on supporting reforms in digitization, liquidity, energy, power, and transportation sectors.

During the discussion, Professor Yunus highlighted the need for support in the extensive reforms undertaken by the Interim Government. He urged the World Bank to adopt a creative approach to its lending programs, stating, “It is a big opportunity to rebuild the country.”

Banga also addressed energy cooperation in South Asia, discussing the potential for hydroenergy produced in Nepal and Bhutan to be shared with neighboring countries, including India and Bangladesh. Energy and Power Adviser Fouzul Kabir Khan was also present at the meeting.

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