Dhaka, April 24 -- The OPEC Fund for International Development (OFID) has extended US$100 million worth of budgetary support to Bangladesh for the country's economic and governance reforms.

The OFID and Bangladesh government on Tuesday signed an agreement to this effect on the sidelines of the IMF-World Bank annual meeting in Washington, DC.

Economic Relations Division (ERD) Secretary Shahriar Kader Siddiki and OFID President Dr Abdulhamid Alkhalifa signed the deal on April 22 at Washington DC, according to a press release from the ERD received on Wednesday.

The budgetary support would be used for Bangladesh's macroeconomic and financial reform and management, said ERD.

The maturity of the loan will be 18 years including a grace perio...