The World Bank and Asian Development Bank (ADB) are set to present proposals to their respective boards to provide Bangladesh with $1.1 billion in budget support.

According to finance ministry officials, the move aims to expedite critical reforms and alleviate pressure on the country’s strained foreign exchange reserves.

The World Bank is expected to propose $500 million under the Second Green and Climate Resilient Development Credit Programme. The ADB plans to offer $600 million through the Strengthening Economic Management and Governance Programme.

The World Bank’s proposals are slated for board review in December, while the ADB’s support is tied to reforms in fiscal management and governance.

The ADB loan, originally intended to aid Bangladesh’s transition from the Least Developed Country (LDC) category by 2026, has been repurposed following signals from the interim government about delaying the graduation timeline.