MNA Business Desk: The World Bank (WB) is likely to provide a grant of US$ 400 million for the rehabilitation of Rohingya refugees within next two years, reported news agency.
The Washington-based international financial institution has backtracked from its earlier stance on providing the loan for the Rohingyas as the Government of Bangladesh raised its reservations about the credit, they said.
“The WB has formally agreed to provide the grant for the Rohingyas,” said Kazi Shofiqul Azam, Secretary of the Economic Relations Division (ERD).
They have recently completed a mission to explore the potential of support, he told the FE.
Earlier, the WB offered Bangladesh a loan worth nearly US$ 2.0 billion from its ‘Refugee Fund’.
The government was reluctant to receive the credit rather it requested the global lender to provide a grant for the rehabilitation work of the displaced people of Myanmar.