Dhaka, June 25 -- Bangladesh is receiving a World Bank loan worth US$450 million meant for strengthening the country's financial sector struggling for revival with better footprint in the economic activities, the global lender says.

The Board of Executive Directors of the Washington-based lender approved the loan early Wednesday (Bangladesh time), said the World Bank Dhaka office in a statement later in the day.

Under the Financial Sector Support Project II, Bangladesh will work to bolster the deposit-protection system to protect small depositors and build Bangladesh Bank's supervisory capacity and systems.

"It lays the groundwork for bank resolution and reform of state-owned banks. It will also support the deposit-protection fund by i...