Chief Adviser Professor Muhammad Yunus has requested the support of European Central Bank President Christine Lagarde in recovering billions of dollars allegedly stolen from Bangladesh during Sheikh Hasina’s ousted regime.

The two leaders met in Davos on Wednesday on the sidelines of the World Economic Forum’s annual gathering.

Prof Yunus informed Lagarde, a former IMF chief, that approximately $17 billion was looted from Bangladesh’s banking sector by oligarchs linked to the previous government, while an estimated $16 billion was siphoned off annually over Hasina’s 15-year rule.

"It was a massive highway robbery," Prof Yunus said, adding the oligarchs first took over banks and then took loans, which they never paid back.

Lagarde said she would support the Interim Government's move to recover the money, and she recommended that Bangladesh should also take help from the IMF to recover and send   the money back home.

During the talks, they also discussed the July uprising and Bangladesh's reform initiatives.

Lagarde also voiced her support for Bangladeshi educational institutions.

Lamiya Morshed, the SDG coordinator of the Bangladesh government, and Tareq Ariful Islam, Bangladesh permanent envoy in Geneva, also joined the meeting.

BDST: 0930 HRS, JAN 23, 2025
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