On Monday, Business Standard quoted officials of the Economy Relations Division (ERD) as saying that if the volume of mortgage loans for the last financial year is considered, the amount would be US$847 million, Xinhua news agency reported. .
He said that if the undistributed amount of the current financial year is calculated, the amount will be higher.
The new facility, called the Rapid Response Option (RRO), is part of the World Bank's recently approved crisis preparedness and response toolkit.
The toolkit aims to help countries quickly redeploy existing balances in the World Bank portfolio for emergency response when crises such as natural disasters, health shocks, or conflict events occur.
In April, the World Bank informed Bangladesh about the facility in a letter to Bangladeshi Finance Minister Abul Hasan Mahmood Ali and invited the country to "establish a new rapid response option".
The World Bank's new initiative comes as another relief to the country's foreign exchange reserves after the IMF team last week agreed to release $1.15 billion in the third tranche of its $4.7 billion loan package, which It was almost double the amount determined earlier.
It said the launch of this new initiative will complement the existing mechanism, offering additional flexibilities, empowering governments to respond quickly in times of crisis.
However, some preliminary steps need to be taken, including signing an agreement with the World Bank beforehand, to access the funds.
He said that if the undistributed amount of the current financial year is calculated, the amount will be higher.
The new facility, called the Rapid Response Option (RRO), is part of the World Bank's recently approved crisis preparedness and response toolkit.
The toolkit aims to help countries quickly redeploy existing balances in the World Bank portfolio for emergency response when crises such as natural disasters, health shocks, or conflict events occur.
In April, the World Bank informed Bangladesh about the facility in a letter to Bangladeshi Finance Minister Abul Hasan Mahmood Ali and invited the country to "establish a new rapid response option".
The World Bank's new initiative comes as another relief to the country's foreign exchange reserves after the IMF team last week agreed to release $1.15 billion in the third tranche of its $4.7 billion loan package, which It was almost double the amount determined earlier.
It said the launch of this new initiative will complement the existing mechanism, offering additional flexibilities, empowering governments to respond quickly in times of crisis.
However, some preliminary steps need to be taken, including signing an agreement with the World Bank beforehand, to access the funds.