Dhaka, June 22 -- The World Bank (WB) has approved $500 million in financing to support Bangladesh's efforts to improve governance, enhance transparency, and strengthen corporate oversight in its financial sector.

The loan, provided under the 'Strengthening Governance and Institutional Resilience Development Policy Credit', is aimed at facilitating key reforms in the public and financial sectors - seen as essential to sustaining long-term economic growth and improving service delivery for vulnerable communities.

"Robust management of public finances is critical for Bangladesh's sustainable economic development," said Gayle Martin, World Bank Interim Country Director for Bangladesh. "This support will help the government build stronger i...