BANGLADESH TO SEEK WORLD BANK HELP FOR INDUSTRY
Bangladesh will seek additional money
from the World Bank to finance industrial development which is
facing a capital shortage and a lack of expertise, Finance
Ministry officials said.
    They said the government had revised downward its Annual
Development Programme budget for this fiscal year by seven pct
to 44.4 billion Taka.
    A team will visit Washington next month for talks with
World Bank executives and to ask for 200 mln dlrs from the
bank's Industrial Programme Credit scheme, they said.
    The new money would be in addition to nearly two billion
dlrs aid which the World Bank, other leading agencies and donor
countries are expected to offer Bangladesh for the year from
July at their Paris meeting next month. They offered 1.85
billion dlrs to the country in 1986/87.
    The Annual Development Programme budget has been cut mainly
because of poor tax collection and a fall in public and private
sector industrial investment, the Finance Ministry officials
said. They said they expect a two pct growth in the industrial
sector this year, against a target of five pct and a growth of
1.5 pct in 1985. They gave no further details.
 REUTER
