Bangladesh clinched two World Bank credits worth $850 million on Wednesday—$650 million to overhaul Chittagong’s Bay Terminal and $200 million to strengthen social protection—aiming to cut shipping costs, spur jobs and aid 4.5 million vulnerable citizens.
The World Bank and Bangladesh have signed two concessional loan agreements totaling $850 million to boost trade capacity, spur job creation and modernise the country’s social-safety net, the lender announced on Wednesday.
$650 million for Bay Terminal Marine Infrastructure Development – The funds will finance a six-kilometre, climate-resilient breakwater and new access channels at Chittagong, enabling the port to handle larger vessels. Officials expect shorter turnaround times and lower transport costs to save the economy about $1 million a day. When finished, the terminal should process roughly 36 percent of Bangladesh’s container traffic, benefiting more than one million people and expanding opportunities for women in port operations and trade.
$200 million for social-protection reform – The Strengthening Social Protection for Improved Resilience, Inclusion and Targeting project will deliver cash transfers, skills training, micro-credit and entrepreneurship mentoring to 4.5 million vulnerable people—especially youth, women, persons with disabilities and residents of climate-affected areas. A national registry will be created to sharpen beneficiary targeting and service delivery.
Both credits come from the World Bank’s International Development Association, which has committed over $45 billion to Bangladesh since 1971. Sustaining growth, said interim country director Gayle Martin, requires generating quality jobs for the nearly two million young Bangladeshis who enter the labour market each year.
Indian Minister of Petroleum and Natural Gas, Hardeep Singh Puri, announced that India is opening up 200,000 square kilometers of its sedimentary basin for oil and gas exploration, inviting Russian companies to participate.
Colombian President Gustavo Petro announced on May 16 that his country has started the process of joining the New Development Bank of BRICS.
Ministers in Libya’s Government of National Unity (GNU) are resigning one by one amid mounting protests in Tripoli, Libya Press agency reports
The US Supreme Court on Friday paused President Donald Trump’s attempt to carry out deportations using the 1798 Alien Enemies Act, siding with a group of Venezuelan immigrants in Texas who argued they were at risk of sudden removal under the rarely used wartime law.
Two North Korean fishermen picked up by South Korean patrols in March remain stranded in the South as Pyongyang refuses to respond to requests for their return.
Indian Minister of Petroleum and Natural Gas, Hardeep Singh Puri, announced that India is opening up 200,000 square kilometers of its sedimentary basin for oil and gas exploration, inviting Russian companies to participate.
Colombian President Gustavo Petro announced on May 16 that his country has started the process of joining the New Development Bank of BRICS.
Ministers in Libya’s Government of National Unity (GNU) are resigning one by one amid mounting protests in Tripoli, Libya Press agency reports
The US Supreme Court on Friday paused President Donald Trump’s attempt to carry out deportations using the 1798 Alien Enemies Act, siding with a group of Venezuelan immigrants in Texas who argued they were at risk of sudden removal under the rarely used wartime law.
Two North Korean fishermen picked up by South Korean patrols in March remain stranded in the South as Pyongyang refuses to respond to requests for their return.
Ukrainian President Volodymyr Zelenskyy met Turkish President Recep Tayyip Erdogan in Ankara on May 15, with discussions reportedly focusing on upcoming peace talks between Ukrainian and Russian delegates in Istanbul.
Israeli Prime Minister Benjamin Netanyahu said the war in Gaza will not stop until Hamas is destroyed, following the release of US-Israeli soldier Edan Alexander.
Qatar signed a landmark agreement with U.S. aerospace giant Boeing on Wednesday to acquire 160 aircraft for Qatar Airways, a deal valued at $200 billion. The signing took place in Doha during the visit of U.S. President Donald Trump.
Delegations from Russia and Ukraine met in Türkiye for their first direct peace talks since 2022, with discussions lasting under two hours.
Vietnam and Thailand have officially upgraded their ties to a strategic partnership, marking a significant step forward in regional diplomacy.
Indian Minister of Petroleum and Natural Gas, Hardeep Singh Puri, announced that India is opening up 200,000 square kilometers of its sedimentary basin for oil and gas exploration, inviting Russian companies to participate.
Colombian President Gustavo Petro announced on May 16 that his country has started the process of joining the New Development Bank of BRICS.
Ministers in Libya’s Government of National Unity (GNU) are resigning one by one amid mounting protests in Tripoli, Libya Press agency reports
The US Supreme Court on Friday paused President Donald Trump’s attempt to carry out deportations using the 1798 Alien Enemies Act, siding with a group of Venezuelan immigrants in Texas who argued they were at risk of sudden removal under the rarely used wartime law.
Indian Minister of Petroleum and Natural Gas, Hardeep Singh Puri, announced that India is opening up 200,000 square kilometers of its sedimentary basin for oil and gas exploration, inviting Russian companies to participate.
Colombian President Gustavo Petro announced on May 16 that his country has started the process of joining the New Development Bank of BRICS.
Ministers in Libya’s Government of National Unity (GNU) are resigning one by one amid mounting protests in Tripoli, Libya Press agency reports
The US Supreme Court on Friday paused President Donald Trump’s attempt to carry out deportations using the 1798 Alien Enemies Act, siding with a group of Venezuelan immigrants in Texas who argued they were at risk of sudden removal under the rarely used wartime law.
Two North Korean fishermen picked up by South Korean patrols in March remain stranded in the South as Pyongyang refuses to respond to requests for their return.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment