New Delhi: Bangladeshs interim government has officially requested $1 billion in budgetary support from the World Bank amidst a growing financial crisis in its power and energy sector. The appeal was made during a meeting between Power, Energy, and Mineral Resources Adviser Muhammad Fouzul Kabir Khan and World Bank Country Director for Bangladesh and Bhutan, Abdoulaye Seck, in Dhaka on Wednesday.The interim government is grappling with over $2 billion in outstanding payments to suppliers for power and energy imports, as reported by Xinhua. Adviser Fouzul Kabir Khan highlighted that settling this substantial debt is a top priority for the administration, which inherited the financial burden from the previous government.Bangladeshs situation To address these challenges, the interim government has already taken significant steps, including suspending the much-criticized Quick Enhancement of Electricity and Energy Supply Act of 2010. This controversial law allowed the government to set energy prices without public hearings, a practice that has now been abolished.The political landscape in Bangladesh dramatically shifted on August 5, when former Prime Minister Sheikh Hasina was ousted from power after ruling the country since January 2009. What began as student-led protests escalated into a nationwide crisis, leading to her removal. Nobel laureate Muhammad Yunus has since taken the oath as the head of the interim government, tasked with navigating the country through this turbulent period.The ongoing financial crisis and political instability have drawn international attention, with the interim government now relying on global support to stabilize the economy and meet critical energy needs.
