Development experience of Bangladesh is instructive for other countries: World Bank. Daily Star

The Star Online reports

Wednesday, September 21, 2022 04:45 PM

AHM Mustafa Kamal in a bilateral meeting with Martin Reiser. Photo: Collected


AHM Mustafa Kamal in a bilateral meeting with Martin Reiser. Photo: Collected

World Bank Vice President Martin Reiser said, ‘Bangladesh’s development experience is instructive for other countries. The World Bank will stand by Bangladesh’s sustainable and inclusive development journey.

Reiser, the new vice president of the South Asia region, said this for the first time after his visit to Bangladesh.

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He said, ‘Bangladesh is a success story of South Asia in terms of development and the World Bank is proud to be a partner in this journey of the country for the last 50 years.’

In a meeting with Finance Minister AHM Mustafa Kamal, Reiser praised the government for the quick turnaround of the economy after the coronavirus pandemic. He discussed the global economic situation and its impact on monetary policy with the finance minister.

He said, Bangladesh needs to implement the reform programs mentioned in the national plan to maintain growth and to protect the stability of the economy in the midst of uncertainty and rising inflation.

The World Bank is going to develop a Country Partnership Framework (CPF) for Bangladesh. Based on this framework, the extent of the organization’s assistance to Bangladesh from 2023 to 2027 will be determined.

Reiser also discussed how the World Bank’s support can play a role in realizing Bangladesh’s dream of becoming an upper-middle-income country by 2031.

The World Bank was one of Bangladesh’s earliest development partners after independence. In a 50-year partnership, the World Bank has provided more than $3.7 billion in financing, including grants, interest-free loans and low-interest loans, to support Bangladesh’s development.

At the moment, 55 projects are running with the funding of 1 thousand 570 million dollars from the World Bank. The World Bank is Bangladesh’s largest development partner.

The article is in Bengali


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