Dhaka, Dec. 5 -- The World Bank and Asian Development Bank (ADB) on Thursday launched a joint-financing framework for two development projects in Fiji and Tonga while Bangladesh is also under consideration for the next round of mutual investment, said the lenders.

Bangladesh will get preference in the next round of WB-ADB joint-financing system, titled "Full Mutual Reliance Framework (FMRF)", for the development projects as the lenders have initially selected 20 projects across the world for mutual investment, the lenders said.

WB Group President Ajay Banga and ADB President Masato Kanda announced the first two Pacific projects to be delivered under the FMRF, an innovative co-financing model that will boost development impact.

Both the...