Bangladesh Seeks $2 Billion Loans by June to Fund Fuel Imports

Bangladesh is seeking about $2 billion in loans from multilateral lenders by June as the new government looks to finance imports of liquefied natural gas and other fuels during the summer, according to people familiar with the matter.

Prime Minister Tarique Rahman’s administration expects to receive $1.3 billion from the International Monetary Fund under an existing program, along with about $700 million from the Asian Development Bank, according to the people, who asked not to be identified as the talks are private. The funds are part of a broader strategy to ensure uninterrupted power supplies during the summer without raising domestic prices. They will also help ease pressure on foreign exchange reserves.