Amid a severe financial crisis, exacerbated by corruption under the Awami League government, Nobel Laureate Dr. Muhammad Yunus has stepped in as interim head of state. With dwindling foreign exchange reserves and a dollar shortage, Dr. Yunus has secured international support from major financial institutions like the IMF, World Bank, ADB, and USAID to stabilize Bangladesh’s economy.
Unlike the Awami League, which faced difficulties in obtaining loans due to reform conditions, Dr. Yunus has swiftly attracted trust. His reputation has led to loan commitments that could resolve the reserve crisis and dollar shortage.
At the United Nations General Assembly, Dr. Yunus met global leaders, including U.S. President Joe Biden and IMF Chief Kristalina Georgieva. The U.S. pledged $200 million in aid for the Rohingya crisis, while the World Bank offered $3.5 billion, and the IMF promised an additional $3 billion. These funds aim to support digitization, energy security, and infrastructure.
China and Nepal have also shown interest in investing in Bangladesh’s renewable energy and hydropower sectors. Experts believe these investments will boost foreign currency inflows and create jobs.
In total, Bangladesh is set to receive $13.6 billion in international loans, which could stabilize the banking sector, increase reserves, and improve the economy. However, key reforms in banking, energy, and public revenue systems will be essential for unlocking these funds.
