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Bangladesh to receive $1B IMF loan for poverty reduction

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To finance the Second National Strategy for Accelerated Poverty Reduction (NSAPR-II) programme launched this year, IMF will be providing $1B soft loan to Bangladesh. The delegation, led by IMF director Anoop Singh, came to Bangladesh to discuss the loan issue with the government and it is expected that the international financial organisation will give its decision by December or January, Mr Muhith said. “The money can be spent on social safety net programme, agriculture, communications or employment generation activities,” Mr Muhith said. Presently, the NSAPR has revenue and expenditure gap of about $6 billion and the IMF will provide $1 billion, Mr Muhith said.

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UK to drop poverty eradication programs

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In the times where actors across different fronts are uniting to eradicate the menace of poverty from globe, UK’s Department for International Development (DfID) is planning to drop the poverty commitments that previous Labor government made in its era.

In a similar step, the new coalition government scrapped £6.5m global development engagement fund, a scheme designed to increase public understanding of the causes of global poverty and to mobilise action in support of international development.

Read the full details of the story at Guardian. Don’t forget to write your reaction in the space given below.

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Pakistan Floods: World Bank’s Viewpoint

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Rachid Benmessaoud, the Country Director for Pakistan discusses the devastating impact of Pakistan floods and the World Bank’s response to it. Check it out

(Video credits: World Bank)

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