** People rescuing an injured passenger from inside a passenger bus hit by a truck on Dhaka-Mawa Expressway in Shologhar area of Shreenagar upazila in Munshiganj on Thursday. ** Motorcycles allowed on Padma Bridge after 10 months ** Commuters charge extra fare, passengers disappointed ** 78 people killed in Yemen stampede ** Moon sighting committee meets today to ascertain Eid day ** 9 killed in road accidents in 3 districts ** US announces new $325 m military aid package for Ukraine ** Eid-ul-Fitr in Saudi Arabia today ** Eid exodus begins ** LPG price cut illusive ** 15 hurt as bus overturns in capital ** New interbank cheque clearing timings set for Eid holidays ** Four women hit by a train die in Tangail ** 12.28 lakh SIM users left Dhaka on Tuesday ** Sylhet engineer threatened over power outage ** People rush to village homes to spend Eid holidays with their near and dear ones. This photo was taken from Sadarghat Launch Terminal on Tuesday. NN photo ** Surge in cases of dehydration, diarrhoea amid summer heat wave ** Padma Bridge construction cost increases by Tk 2,412cr ** PM gives Tk 90m to Bangabazar fire victims ** Textile workers block highway demanding wage, Eid bonus ** Attack on PM's motorcade Ex-BNP MP, 3 others get life term ** Load-shedding increases for demand of electricity during heat wave ** Motorbikes to be allowed on Padma bridge from Thursday ** 5-day Eid vacation begins from today ** Take Nangalkot train accident as a warning about negligence of govt functionaries **

World Bank arm for poorest enters capital markets

24 September 2016 AFP, Washington

The arm of the World Bank serving the poorest countries has received its first-ever public credit ratings, allowing it to borrow on international capital markets, the global lender announced Thursday.
The International Development Association, which offers grants and concessional loans to the world's 77 poorest countries, received the top triple- A rating with a stable outlook from the agencies Moody's and Standard & Poors.
The IDA is currently negotiating a new round of cash contributions from sovereign governments covering 2017 to 2020 and access to capital markets could boost these resources by half, according to Axel van Trotsenburg, World Bank Vice President for Development Finance.
"We're still negotiating but the ambition is certainly to significantly increase our resources," van Trotsenburg told AFP. "A fifty percent increase could be a possibility."
The previous package agreed in 2013 totalled $52 billion, he said.
In a statement, Moody's said it had based its rating on IDA's high capital adequacy and liquidity as well as strong support from member countries.
"Although IDA lends to some of the poorest nations worldwide, its asset performance has been high," Moody's said.
"Non-performing loans have averaged 2.4 percent over the last seven years, and fell below 2 percent" in the 2016 fiscal year.

Add Rate