But whether the funds will be disbursed in the form of a loan or a grant is yet to be decided, according to Md Shahabuddin Patwary, additional secretary to the Economic Relations Division or ERD. The World Bank and the government are in talks over the funds, said Shahabuddin. "We don't know yet if the aid amounts to a grant or loan. But we will request the World Bank authority to make it a grant," said Shahabuddin. If the fund is provided as a loan, it will have to be repaid over 25 years, including a five-year grace period, on a 2 percent interest rate.

Source: bd News24 March 16, 2020 14:26 UTC