Bangladesh Rejects UK Money Due to World Bank Involvement

Bangladesh has turned down 60 million pounds (USD94 million) the U.K. promised to fight climate change, because of conflicts over how the money would be channeled, Guardian reports. DfID insisted that part of the money would be channeled through the World Bank, the British daily notes. Bangladesh, meanwhile, argued that channeling money through the World Bank or any international finance institution would “attach strings and conditions which are not favorable to Bangladesh.”

About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.