There has been a sharp decline in loans commitments by foreign sources to Bangladesh in the first seven months of fiscal year 2024-25, raising concerns about development funding.

A big chunk of foreign funds was provided as budgetary support from the World Bank and the Asian Development Bank (ADB) in December released $1.1 billion, leading to a rise in foreign aid disbursement and providing some relief to the government.

Prime Minister Sheikh Hasina asked the authorities concerned at Ecnec meeting

Delays and lack of quality control are a major concern when it comes to development projects.

The government’s foreign debt repayment has become costlier owing to the sharp depreciation of the taka against the US dollar in recent months.

Talks for the support package from the International Monetary Fund are likely to begin after the third week of October, said the Washington-based multilateral lender yesterday.