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B’desh sees higher foreign aid flow in Jul-Aug
The foreign aid flow to Bangladesh during the first two months (July-August) of the current fiscal year (FY18) continued its encouraging trend as the aid disbursement during the period was $208.8 million higher than the corresponding period of the last fiscal year (FY17).
According to the latest data of the Economic Relations Division (ERD), the overall foreign aid disbursement in July-August this year totaled $ 492.10 million against $283.30 million in the corresponding period of the last fiscal year.
Out of the totaled disbursed amount during the period, the portion of loan was $ 490 million while the portion of grant was $2.1 million.
The ERD data shows that of the total disbursed amount of $ 283.3 million aid in July-August in the last fiscal year, the portion of loan was $ 257.30 million while that of grant was $ 26 million.
Against the disbursement, the overall foreign aid commitment for the month of July-August this year was $ 725.2 million of which $662.7 million came as commitment for loans while the rest of $ 62.5 million as grants.
However, the foreign aid commitment for July-August period of the last fiscal year was much higher as it then totaled $1192.1 million including $21.9 million in grants and $1170 million in loans.
During this July-August, Bangladesh made a repayment of $193.1 million including $150.7 million in principal amount and $42.4 million in interests.
On the other hand, the country made a repayment of $163.5 million in July-August period of the last year including $123.1 million in principal amount and $40.3 million in interests.
Talking to UNB, an official at the ERD said that the target of getting foreign aid commitment this fiscal year is $ 6 billion whereas the target of realizing foreign aid disbursement is $5.555 billion.
According to the ERD, the commitments of foreign aid increased to a record high of $17.86 billion in FY17, 153.33 percent higher than that of the corresponding period of the previous fiscal year ($7.05 billion).
The increase was mainly due to the single largest $11.36 billion state credit commitment by the Russian government for the Rooppur nuclear power plant project.
During the FY16, a total of US$ 7.05 billion of external assistance was committed.
In the FY16, a total amount of $ 3.56 billion was disbursed of which $ 530.56 million was grant and $ 3033.03 million was loan. Of the total amount, food aid and project aid are $31.87 million and $3531.72 million respectively. Multilateral donors disbursed lion share of the total disbursement amounting to $2322.28 million and bilateral donor disbursed $1241.31 million.
Up to June 30, 2016 a total of about $99.20 billion of external assistance was committed to Bangladesh. According to the classification by purposes the share of food aid is $6.88 billion, commodity aid is $11.07 billion, project aid is $77.67 billion and budget support is $3.58 billion of the total commitments.
For the period since independence up to June 30, 2016, a total amount of about $69.15 billion of foreign aid was disbursed, of which $26.50 billion is grant and $42.65 billion is loan. Of the total amount, $6.87 billion as food, $10.91 billion as commodity, $47.81 billion as project aid and $3.57 billion as budget support were disbursed.