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The World Bank has approved $1.1 billion in emergency financing for Bangladesh
to help the country cope with the economic impact of rising food, fuel, and fertilizer prices caused by the conflict in the Middle East.
The financing includes $300 million for fertilizer imports for the upcoming rice planting season, covering approximately 1.4 million hectares of agricultural land. Bangladesh relies on imports for more than 85% of its fertilizer needs.
Another $713 million will be used to finance emergency measures, including cash assistance for vulnerable households and support for small businesses, as well as to cover critical fuel and energy imports needed to maintain essential public services.
The country also expects additional support from development partners, including the IMF, as part of efforts to strengthen foreign exchange reserves and ease pressure on public finances.