US EditionBangladesh Seeks Emergency Financial Assistance in the Face of Oil Prices
Bangladesh seeks $2 billion in loans from IMF and Asian Development Bank to manage energy security and budget pressures caused by rising global fuel prices.
6 Articles
6 Articles
Bangladesh has requested more than $2 billion in emergency loans from international institutions to deal with the surge in oil prices that it imports as a result of the war in the Middle East, the AFP learned from the government on Saturday, March 21.
Bangladesh seeks $2 billion in loans to tackle energy security amid Middle East war
DHAKA (AFP): Bangladesh is pushing to secure around $2 billion in loans from multilateral agencies to address energy security concerns amid soaring global fuel prices caused by the Israel-US war on Iran. The government has moved to reduce fuel use, including pausing production at most fertiliser plants. On Saturday, prime minister’s finance and planning advisor Rashed Al Titumir said authorities are now pursuing a three-pronged strategy to secur…
The continued rise in oil prices has forced the country to request emergency financial assistance of 170 million people. The IMF has committed to lend $1.3 billion and the Asian Development Bank (ADB) to 500 million budget support. The pump rationing measures have been suspended by the government on the occasion of the holidays of the Muslim Day of Eid.
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