The World Bank's portfolio for Bangladesh under its current aid package has almost been finished, which has resulted in the delay of implementing some proposed development projects, officials said on Wednesday.
They said under the three-year IDA-18 package, only some US$30 million fund has remained in hand of the Bank for the disbursement to Bangladesh.
The tenure of IDA-18 package will end by June 2020.
In the meantime, the global lender has confirmed nearly $4.3 billion worth assistance for the country in the last one and a half years, officials said.
The Bank's current package for its member countries, including Bangladesh, was activated in July 2017 and will conclude in June 2020.
The WB announced a record level of contribution to its International Development Association (IDA) that lends to the world's poorest countries.
Donor countries had pledged some US$75 billion funds for replenishing the latest package.
Out of the funds, some $4.3 billion assistance has been earmarked for financing the Bangladesh's development work.
A senior Finance Ministry official said the Bank is trying to divert some assistance from the countries, which may not be able to use those during the IDA-18 period and some from different regional and other prospective funds.
"Since the Bank's Bangladesh portfolio is almost finished, more than 10 pipeline projects will not get funding confirmation within this aid package," he told the FE.
"Those may be shifted to get funds from the next aid package of IDA-19." The next package will kick off in July 2020.
According to the officials, three out of more than 10 pipeline projects, expected to be funded by the Bank, could get board approval within the shortest possible time.
The three projects are expected to receive financial support from the next package, another finance official said.
Meanwhile, the fate of seven other projects is now hanging in the balance as the funding confirmation depends on the diversion of funds from other regions and countries, which may not utilise IDA-18 package, he said.
Among the projects, the Bank is expected to confirm US$100 million assistance for the strengthening of public finance management programme to enable service delivery, $156 million for scaling-up of renewable energy project and another $100 million funds for the Dhaka city neighbourhood project in the foreseeable future.
The seven other pipeline projects and programmes including the development policy support credit (tranche-II), public transport improvement project, a higher education project of the education ministry, and the leveraging microfinance for improved sanitation and water supply project.
A senior Economic Relations Division (ERD) official said the country is expected to get more funds from the WB during the IDA-18 period as funds from some war-torn nations could be diverted.
The official said Bangladesh will require more $2.0 billion assistance from the WB for its pipeline projects.
In the IDA-18 aid package review meeting held in Zambia, Bangladesh had requested the Bank to divert funds from unutilised areas so that pipeline projects can be financed, she said.
