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Tuesday, 20 November, 2001, 13:21 GMT
Bangladesh asks for $1bn loan
News in brief
Bangladesh is seeking up to $1bn in credit from the World Bank to offset the negative side effects on its economy of the 11 September attacks.

The country's exports have fallen by 35% in the past two months, because the US is the main consumer of Bangladeshi garments, buying more than $2bn-worth every year.

Bangladesh┐s finance ministry said, however, that the World Bank wanted it to cut subsidies on utilities like gas, electricity, petrol and fertiliser in order to be able to receive such assistance.

Earlier this month, the US refused Bangladesh's plea for duty-free access to its market, as part of a proposed deal to win Bangladeshi support for the war in Afghanistan.

See also:

31 Oct 01 | South Asia
Bangladesh edges toward gas exports
08 Nov 01 | South Asia
Bangladesh gets no trade favours
17 Oct 01 | South Asia
Bangladeshi PM warns on economy
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