G-24 urges cheaper IMF, World Bank loans as debt costs soar
…developing nations pay $500bn more in debt costs than advanced economies- Oyedele Developing countries pay about $500 billion more in
Finance Minister Amir Khasru Mahmud Chowdhury stated that discussions are currently ongoing regarding obtaining an additional $10 billion in loan assistance from the World Bank. According to the Dhaka Tribune Business, no final decision has been made on this matter, and the completion of discussions and subsequent steps may take several more months.
Separately, Temasek Trust and the World Bank Group signed a memorandum of understanding in Bangkok to establish a strategic partnership. As reported by the Vietnam Investment Review, the partnership aims to combine the catalytic capital and innovation networks of the Temasek Trust Collective with the global development expertise and country-level insights of the World Bank Group to advance shared development priorities.
Brief written by urgent.news from Dhaka Tribune Business, BusinessDay Nigeria, Vietnam Investment Review — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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