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IMF provides interest free loan to Bangladesh

Published on: May 30th, 2020 3:56 PM

The KT Correspondent/

The International Monetary Fund (IMF) has provided an interest-free loan of 632 million to Bangladesh to meet the challenges posed by the coronavirus (Cavid-19) epidemic, which is Tk 8,222 crore in Bangladeshi currency.

Generally, the IMF never lends to any country without conditions. However, there is no condition on this loan.

In a statement, the IMF said Bangladesh would be able to use the loan to further strengthen social security, including the health of its people, and implement incentives to keep the economy on track.

This is the largest loan assistance from Bangladesh from various international organizations to deal with the Corona epidemic.

Earlier, the Asian Development Bank (ADB) provided 500 million in budget assistance to Bangladesh, which has already been deposited in the government treasury.
The statement further said that the IMF will stand by the government in this crisis of Bangladesh and the assistance will be further increased in the future.

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