The International Monetary Fund (IMF) will give decision on providing the next two tranches of its US$4.7 billion loan package for Bangladesh amounting to $1.3 billion tomorrow. “A series of meetings were held in Washington between Bangladesh Bank (BB) Governor Dr Ahsan H Mansur and senior IMF officials. IMF will give their decision tomorrow regarding the loan installments. We hope that a positive decision will come tomorrow to this end,” said BB Spokesperson Arif Hossain Khan. He said the central bank will hold a press conference tomorrow at its Jahangir Alam conference room at BB headquarters in the city. BB Governor Ahsan H Mansur is expected to share the update about the loan installments through virtually joining the press briefing from Dubai, he added. Out of the total $4.7 billion loan package, Bangladesh has received $2.3 billion so far in three installments under the Extended Fund Facility, Extended Credit Facility, and Resilience and Sustainability Facility.
The International Monetary Fund (IMF) will give decision on providing the next two tranches of its US$4.7 billion loan package for Bangladesh amounting to $1.3 billion tomorrow. “A series of meetings were held in Washington between Bangladesh Bank (BB) Governor Dr Ahsan H Mansur and senior IMF officials. IMF will give their decision tomorrow regarding the loan installments. We hope that a positive decision will come tomorrow to this end,” said BB Spokesperson Arif Hossain Khan. He said the central bank will hold a press conference tomorrow at its Jahangir Alam conference room at BB headquarters in the city. BB Governor Ahsan H Mansur is expected to share the update about the loan installments through virtually joining the press briefing from Dubai, he added. Out of the total $4.7 billion loan package, Bangladesh has received $2.3 billion so far in three installments under the Extended Fund Facility, Extended Credit Facility, and Resilience and Sustainability Facility.
The Asian Development Bank (ADB) mobilized a record $8.7 billion in nonsovereign cofinancing in 2024, underlining the growing role of private sector engagement in advancing development across Asia and the Pacific. This milestone contributed to a total cofinancing amount of $14.9 billion for the year, complementing ADBs own investment of $24.3 billion. The year 2024 saw a broad-based growth across all nonsovereign cofinancing modalities. Long-term project cofinancing grew by 3.3% to $3.4 billion, while trade finance, supply chain, and microfinance programs rose 2.4%, said an ADB press release. Transaction volumes in trade and supply chain finance jumped from 21,400 in 2023 to 27,600 deals in 2024, reflecting stronger demand. A key project was the gulf solar and battery energy storage project in Thailand, backed by $260 million from ADB and $529 million from partners. ADB mobilized $6.2 billion in sovereign cofinancing to support that supported sovereign operations, aiding governments in strengthening infrastructure, services, and resilience. Multilateral partners were the leading contributors to sovereign cofinancing, providing $3.1 billion for 43 projects—accounting for 50% of sovereign cofinancing. Bilateral partners followed closely, contributing $2.9 billion across 35 projects. The Partnership Report 2024, launched at ADBs 58th Annual Meeting in Milan, highlighted how cofinancing supported a wide range of efforts—from early childcare and maternal health in India to disaster risk financing and insurance solutions in Mongolia to power sector reforms in Uzbekistan. “Through bold actions, innovative solutions, and stronger partnerships, we are committed to driving progress, protecting the most vulnerable, and sustaining ecosystems for millions,” said ADB Strategy, Policy, and Partnerships Director General Xinning Jia. “Together, we are building a stronger, more resilient future for Asia and the Pacific.” added Jia. ADB collaborates with a diverse array of partners—including governments, multilateral institutions, and private investors—to address complex challenges such as poverty, environmental degradation, and access to basic services. In 2024, two in every five ADB projects were funded jointly by ADB and its partners, showing how central partnerships are to its development approach. Trust funds also played a key role. The Japan Fund for Prosperous and Resilient Asia and the Pacific supported 33 projects. The Republic of Korea e-Asia and Knowledge Partnership Fund and the High-Level Technology Fund backed 17 and 14 projects. In the private sector, ADB Ventures Investment Fund 1 and Leading Asias Private Infrastructure Fund 2 provided early-stage and long-term financing to 15 projects promoting innovation and green growth. ADB also forged new partnerships in 2024 to expand its impact, including with the South Asian Association for Regional Cooperation Development Fund to support economic growth and poverty alleviation in South Asia. ADB is a leading multilateral development bank supporting inclusive, resilient, and sustainable growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from Asia and Pacific region.
The Bank of England is widely expected to cut its key interest rate by a quarter point Thursday as US President Donald Trumps planned tariffs threaten to weaken economic growth. It follows the Federal Reserves decision Wednesday to freeze US borrowing costs and last months move by the European Central Bank to cut eurozone interest rates. The Bank of England is set to trim its rate to 4.25 percent in a decision due at 11:02 GMT, two minutes later than usual as the nation stands silent to mark the 80th anniversary of Victory in Europe Day. With the rate cut priced in by markets, investors will be looking for any shift in language by the BoEs Monetary Policy Committee that could hint at further reductions this year. "While the Bank of England is universally expected to cut (on Thursday)... the key to the reaction in the pound will be the banks accompanying communications," noted Enrique Diaz-Alvarez, chief economist at global financial services firm Ebury. He added that the bank was likely "to revise lower both of its inflation and growth projections for 2025, with the committee likely to say that US tariffs will weigh on UK growth and dampen price pressures". With global trade tensions recently sending oil prices sharply lower, inflation is on course to retreat according to analysts. Britain is facing 10-percent tariffs on most of its goods exported to the United States, its second-largest trading partner after the European Union. Bank of England governor Andrew Bailey has insisted that Trumps trade assault could hurt Britains economy even if the country avoided the heaviest tariffs. London is in the midst of negotiations with Washington over a post-Brexit trade deal that could see levies reduced in return for relief over Britains digital services tax paid by US tech giants, according to media reports. At its last rate-setting meeting in March, the Bank of England kept its main interest rate on hold at 4.5 percent. Prior to that it reduced borrowing costs three times in seven months with the UK economy already pressured by weak growth.