Finance Minister SAMS Kibria has sought "significant" financial aid from the World Bank and the IMF to stimulate Bangladesh's flood-hit economy. recoup the output loss and help sustain the country's growth rate, reports UNB.

"We've achieved economic growth close to six per cent in last two financial years... Unfortunately. the consolidation of our economic efforts is threatened by the floods.” he told the annual meetings of the Board of Governors of the Bank and the Fund in Washington

Wednesday.

Earlier, the Finance Minister told UNB in Dhaka, that he would seek about 335 million -US dollar from the World Bank and the IMF as emergency assistance. particularly for .balance of payment support.

Kibria said the devastating flood this year has not only affected the normal public life, but also adversely hit agricultural output, industrial production and exports.

To cope with the post-flood economy, he said, the government has evolved the strategy to

regenerate economic activities and maintain the rate of growth by containing inflation.

In particular, this includes maintaining fiscal balance, containing deficits, controlling public expenditure and improving its quality, the Finance Minister said.

Other measures, he said, envisages maintaining adequate international reserve, recoup output losses in agriculture and industry, especially in the export sector, and allowing adequate import so that an upward pressure on prices can be

averted.

"The success of the strategy requires adequate external resource support." he told the World Bank and IMF meetings.

Kibria thanked the friendly countries, and the international and multilateral agencies for their support to the flood victims.

Explaining the various reforms of the Prime Minister Sheikh Hasina's government, he said that attention has been focused on reforms in both financial and administrative sectors.