\nEconomic Correspondent \/\/<\/p>\n
A technical assistance project worth Tk 1,276.30 crore has been initiated to stabilize the country’s financial sector by addressing challenges such as non-performing loans (NPLs), a lack of good governance, and outdated technology systems.<\/p>\n
The primary objectives of the project are to strengthen the financial sector’s safety mechanisms, modernize technology-driven banking systems, and support ongoing banking sector reforms.<\/p>\n
The project, titled ‘Financial Sector Support Project-2’ (FSSP-2), is awaiting approval from the Executive Committee of the National Economic Council (ECNEC). An ECNEC meeting is scheduled to be held at the Bangladesh Secretariat on September 16, presided over by Prime Minister and ECNEC Chairperson Sheikh Hasina. The project will be presented for approval at this meeting.<\/p>\n
Bangladesh Bank will implement the five-year project under the Financial Institutions Division of the Ministry of Finance. The project’s tenure is set from July 2026 to June 2031.<\/p>\n
Of the total project cost, Tk 1,261.54 crore will come as foreign financing from the World Bank’s International Development Association (IDA), while the remaining Tk 14.76 crore will be provided from Bangladesh Bank’s own funds.<\/p>\n
A senior official at Bangladesh Bank stated that the project aims to strengthen the financial sector’s safety net, enhance capabilities in technology-driven banking, and support ongoing banking sector reform activities.<\/p>\n
He added that the project would involve modernizing Information and Communication Technology (ICT) infrastructure and supervisory capabilities, boosting institutional capacity, strengthening ICT-related procurement processes, and engaging necessary consultancy services.<\/p>\n
Source: BSS<\/p>\n
Read regular news and share your opinions.<\/p>\n","protected":false},"excerpt":{"rendered":"
Economic Correspondent \/\/ A technical assistance project worth Tk 1,276.30 crore has been initiated to stabilize the country’s financial sector by addressing challenges such as non-performing loans (NPLs), a lack of good governance, and outdated technology systems. The primary objectives of the project are to strengthen the financial sector’s safety mechanisms, modernize technology-driven banking systems, and support ongoing banking sector reforms. The project, titled ‘Financial Sector Support Project-2’ (FSSP-2), is awaiting approval from the Executive Committee of the National Economic Council (ECNEC). An ECNEC meeting is scheduled to be held<\/p>\n","protected":false},"author":1,"featured_media":8670,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31,22],"tags":[],"class_list":["post-8669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-top-news"],"_links":{"self":[{"href":"https:\/\/thedailymorningsun.com\/index.php?rest_route=\/wp\/v2\/posts\/8669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thedailymorningsun.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thedailymorningsun.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thedailymorningsun.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thedailymorningsun.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8669"}],"version-history":[{"count":1,"href":"https:\/\/thedailymorningsun.com\/index.php?rest_route=\/wp\/v2\/posts\/8669\/revisions"}],"predecessor-version":[{"id":8671,"href":"https:\/\/thedailymorningsun.com\/index.php?rest_route=\/wp\/v2\/posts\/8669\/revisions\/8671"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thedailymorningsun.com\/index.php?rest_route=\/wp\/v2\/media\/8670"}],"wp:attachment":[{"href":"https:\/\/thedailymorningsun.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thedailymorningsun.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thedailymorningsun.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}