** 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 **

Oxfam urges caution as WB arm enters capital markets

25 September 2016 AFP, Washington

Oxfam International on Friday called for prudence following the World Bank's announcement that it would tap capital markets for funds to support development work in the world's poorest countries.
The International Development Association, a World Bank arm which offers concessional loans and grants to support poverty alleviation in 77 countries, has received its first credit rating and will soon borrow on capital markets, according to a World Bank announcement on Thursday.
That would be a break from its traditional reliance only on funding from World Bank member countries.
"The Bank also needs to walk with extreme caution if it is going to start using IDA funds to back private sector investments which come with their own set of risks," Nadia Daar, head of Oxfam International's Washington office, told AFP in an email.
"It must ensure that pro-poor development impacts are prioritized above financial returns as investment choices are made."
The IDA is currently negotiating its latest three-year package of donor cash contributions and World Bank officials say that issuing bonds could add as much as 50 percent to the resources available to support clean water and energy development as well as poverty alleviation.
"We hope this financing model doesn't result in donors being let off the hook for committing strong concessional financing towards IDA," Daar told AFP.

Add Rate