Dhaka: Chief Adviser Professor Muhammad Yunus today urged Sweden to consider investing in social business in Bangladesh instead of providing grants as development assistance. The Chief Adviser made this appeal during a meeting with Jakob Granit, Director General of the Swedish International Development Cooperation Agency (SIDA), at the State Guest House Jamuna.
According to Bangladesh Sangbad Sangstha, Professor Yunus emphasized the potential of social business, particularly in healthcare, as a sustainable form of investment, contrasting it with traditional grant money which he described as charity. He also called for Swedish support in addressing Bangladesh’s energy crisis by facilitating the import of hydroelectricity from Nepal, which possesses significant untapped resources and is prepared to export.
“We are an energy-starved country. Nepal has a huge resource for producing hydropower, and we are willing to bring it. SIDA can collaborate with both of us to make that happen,” Prof Yunus stated, pointing out the critical role SIDA could play in this trilateral cooperation.
SIDA, tasked with implementing Swedish government policy for global development, is currently operating under a cooperation strategy with Bangladesh for the period 2021-2025. In 2024 alone, SIDA has committed close to one billion SEK through various strategies in Bangladesh, including 127.7 million SEK as humanitarian assistance predominantly aimed at supporting displaced Myanmar nationals and the host community in Cox’s Bazar.
Jakob Granit expressed SIDA’s intent to enhance the effectiveness of their assistance amidst changing geopolitical dynamics and during this pivotal period for Bangladesh. He stressed the importance of identifying the right type of support to aid the Bangladeshi government.
The Swedish official also inquired about the government’s reform initiatives, to which the Chief Adviser responded positively, welcoming the inquiry and expressing hope that Swedish support would aid in the country’s transformation. “As an Interim Government, we don’t have much time left, but we want to lay down the foundation,” he stated, acknowledging the challenges left by previous regimes and the ongoing efforts to rebuild.
The meeting was attended by notable figures including Sweden’s Ambassador to Bangladesh, Nicolas Weeks; Senior Secretary to SDG Affairs, Lamiya Morshed; and Economic Relations Division Secretary, Shahriar Kader Siddiky. Ambassador Weeks underscored the urgent necessity to address the Rohingya situation and assured continued Swedish assistance in this regard.