India-Bangladesh news: In the last decade or so, we have seen many new headlines talking about the growth of Bangladesh and how it became one of the fastest-growing economies of Asia. As of today, Bangladesh is ranked 34th in the world, with a total GDP of $437 billion. Along with this, Insider Monkey has estimated that Bangladesh will become the 10th largest economy and India the second largest by 2075. The report also says that Bangladesh’s GDP will be $5.09 trillion. Here’s all the details regrading how Bangladesh which is begging for money from IMF may overtake India in the next decades.
IMF prediction on Bangladesh
Continuing the trend, the International Monetary Fund (IMF) predicts that by 2025, Bangladesh’s economy will have expanded by 3.8 percent, which is a slight dip compared to their previous October forecast of 4.5 percent. Insider Monkey anticipates that in the span of the next half-century, Bangladesh will be one of the top ten leading global economies, India included. They predict this South Asian nation will contribute roughly 1.57 percent to the world’s total GDP.
Notably, readers must understand that these reports dates back to the times when Bangladesh was ruled by a elected government but the things have changed drastically. Talking about the loan, Bangladesh has taken a loan of 4.7 billion dollars from the IMF and if the country can use the resource in a good way, it might challenge India’s growth story in the coming decades.
Bangladesh gets funds from World Bank
The World Bank’s Board of Executive Directors approved three operations totaling USD 1.16 billion to help Bangladesh improve health services, boost water and sanitation services and achieve greener and climate-resilient development, said a World Bank statement on Friday.
“Bangladesh is among the most vulnerable countries to climate change and faces the greatest pollution challenges. Improving climate resilience in every sector and tackling the pollution scourge has become a critical development priority,” said Abdoulaye Seck, World Bank Country Director for Bangladesh and Bhutan.
“These new financing will bring to the people of Bangladesh essential services such as health and water and sanitation while laying the foundation for clean, climate resilient and sustainable development.”
The Second Bangladesh Green and Climate Resilient Development Credit worth USD 500 million will support reforms to help the country’s transition to green and climate-resilient development.
(With inputs from agencies)
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