| WASHINGTON, June 19, 2003—The following project was approved today by the World Bank’s Board:
CREDIT AMOUNT: IDA—US$37 million
TERMS: Grace period= 10 years; Maturity = 40 years
PROJECT DESCRIPTION: This project aims to achieve a strong and effective regulatory and supervisory system for Bangladesh’s banking sector. This would be accomplished by supporting the overall strengthening of Bangladesh Bank (BB), the central bank, to enable it to play its due role as the country’s monetary authority and bank regulator and supervisor. It is also envisaged that, at the end of the project period, a strong and restructured BB would lead the design and implementation of a medium to long-term reform program for achieving a sound and efficient financial system. For more information, please call Karina Manasseh (202) 473-1729 or e-mail kmanasseh@worldbank.org
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