Higher funds received from overseas donors in FY’12

Daily sun, 28 July 2012

The disbursement of foreign assistance, including aid, loans and grants, in the last fiscal marked a significant growth, totalling the amount to $2.033 billion against the promise of $4.50 billion.

In the previous fiscal, the amount disbursed totaled $1.78 billion, though $5.97 billion was promised for the projects including Padma Bridge, the official figures showed.

The country received $2.23 billion from overseas donors and creditors in the FY 2009-2010 and $2.06 billion in the FY 2007-2008.

Even though the disbursement figure has increased, the total amount of grants dropped last fiscal compared to that in the previous fiscal.

In the last fiscal, the grants shrank to $573.85 million, almost half of the promised $1,281.02 million and lower than the $745.09 of previous fiscal.

More, the grants were disbursed higher than the commitment of $630.46 million in the previous fiscal.

In the FY’12, the disbursement figure included loans of $1.46 billion, higher than $1.03 billion of previous fiscal.

The net disbursement of loans, however, totaled $1.07 billion last year, following repayment of credits worth $966.46 million which included interests of $196.56 million.

In the previous fiscal, $929.40 million loans were repaid, which also included $200.20 million interests.

The analysts viewed that the overall disbursement situation was better last year, compared to that of previous fiscal when the World Bank didn’t release Padma Bridge loan.

However, the global lender released funds committed for other development projects in the year.

Of the foreign loans disbursed last fiscal, International Development Association (IDA) did $533.62 million, ADB $472.85 million, JICA $238.32 million, China $59.61 million, South Korea $52.79 million, Kuwait $36.96 million and IFAD $32.34 million.

Of the grants in the same year, IDA approved $112.38 million, DFID $97.88 million, UNDP $57.19 million, WFP $69.26 million, UNICEF $59.04 million, Germany $42.19 million and UNFPA $9.35 million.

In FY’11, IDA disbursed $421.44 million loans, ADB $434.77 million and JICA $107.63 million.

IDA made a grant of $89.63 million in the year when ADB approved $98.86 million

Tags: Bangladesh Economy