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TL;DR
- The World Bank is committed to supporting Bangladesh’s interim government in implementing key economic reforms, focusing on areas like banking, taxation, and anti-corruption.
- Martin Raiser, World Bank Vice President, expressed enthusiasm for the reform agenda during his meeting with Chief Adviser Professor Muhammad Yunus in Dhaka.
- Professor Yunus emphasized the government’s mandate to eliminate corruption and initiate reforms, highlighting labor reforms and youth development as priorities.
- The World Bank has approved $700 million to address the Rohingya humanitarian crisis and support host communities in Cox’s Bazar.
The World Bank has expressed its readiness to support key economic reforms in Bangladesh, as announced by Martin Raiser, Vice President for South Asia, during his recent visit. Raiser met with Chief Adviser Professor Muhammad Yunus at his Tejgaon office in Dhaka, where he affirmed the World Bank’s commitment to assisting the interim government’s reform agenda. “Count on us. We are ready to help,” Raiser stated, highlighting the bank’s enthusiasm for the government’s plans to address corruption and implement significant reforms across various sectors, including banking, taxation, customs, VAT, digitization, and anti-corruption measures.
Professor Yunus welcomed this support, emphasizing that the interim government has a broad mandate from the public to eliminate corruption and initiate substantial changes. “This is the season of reforms. We want to start now,” Yunus declared, citing a student-led uprising as a catalyst for these changes. He outlined priorities such as labor reforms and youth development, asserting that implementing International Labour Organization (ILO) conventions would enhance foreign investors’ confidence and help local manufacturers expand internationally.
Raiser also acknowledged the importance of attracting foreign direct investment (FDI) to Bangladesh, noting that current FDI levels are among the lowest in the region. Additionally, he mentioned the World Bank’s approval of $700 million for addressing the Rohingya humanitarian crisis and supporting host communities in Cox’s Bazar.
The meeting was attended by key figures including Lutfey Siddiqi, special envoy of the Chief Adviser; Lamiya Morshed, senior secretary and head of SDG affairs; Abdoulaye Seck, World Bank country director; and Shahriar Kader Siddiky, secretary of the economic relations division. The discussions underscored a shared commitment to advancing Bangladesh’s development through comprehensive reforms and international cooperation.
News Source: The Daily Star
