Disbursement of foreign aid rises in four months

Dhaka,  Wed,  07 December 2016
Published : 25 Nov 2016, 00:13:10 | Updated : 25 Nov 2016, 19:39:25

Disbursement of foreign aid rises in four months

Disbursement of foreign aid rises in four months
FHM Humayan Kabir


Development partners disbursed US$ 745 million worth of concessional foreign assistance to Bangladesh in the first four months of the current fiscal year, $13 million up from the corresponding period last fiscal, officials said Thursday.

In July-October period of the last fiscal year (FY) 2015-16, multilateral and bilateral donors disbursed $ 731.45 million worth of foreign assistance, the Economic Relations Division (ERD) data showed.

The development partners including the World Bank, Asian Development Bank, JICA, DFID and Islamic Development Bank (IDB) disburse concessional aid every year for the development of Bangladesh.

Meanwhile, the development partners made commitment of $ 13.23 billion worth of loans and grants in the first four months of the current FY 2017 thanks to Russia for its single $ 11.38 billion loan commitment for nuclear power plant in Bangladesh.

In the corresponding period last FY2016, commitment of foreign assistance was only $ 257.01 million, the ERD data showed.

A senior ERD official said: "Both aid commitments and disbursements are showing a positive trend in the current fiscal year. Except for Rooppur nuclear power plant, development partners have made $ 1.85 billion aid commitment in four months. In addition, Russia alone has confirmed $ 11.38 billion credit for constructing the nuclear power plant."She said external assistance disbursement was recorded positive as the implementation rate of the Annual Development Programme (ADP) has picked up in the fourth month of FY 2017.

According to ERD, the government received $ 652.77 million in loans during the Jul-Oct period of FY 2017 and $ 91.80 million in grants from different bilateral and multilateral development partners.

Out of $ 13.23 billion aid commitment, the donors confirmed $ 12.19 billion in loan while the rest $ 33.16 million in grant.

ERD data showed that the government repaid $ 340 million worth of interest and principal of its total outstanding loans in Jul-Oct period of FY 2017.

During the same period in FY 2016, some $ 369 million worth of interest and principal of the outstanding loan was repaid, the statistics showed.

Meanwhile, the government received a total of $ 3.45 billion worth of foreign assistance in FY 2016.

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