Dhaka: The New Development Bank (NDB), a multilateral development bank, has expressed commitment to work closely with Bangladesh and finance infrastructure and sustainable development projects that support its national development objectives and commitments under the SDGs. The bank, established by Brazil, Russia, India, China, and South Africa (BRICS), also observed that the cooperation between NDB and Bangladesh, which joined the bank in 2021, is growing.
According to Bangladesh Sangbad Sangstha, the bank made the observation today at a daylong seminar on ‘Transforming Development: Building a Culture of Accountability through Evaluation, Auditing, and Ethics’. The seminar highlighted NDB’s approach to sustainable development through integrated evaluation, audit, and compliance systems. With over 150 participants-including senior-level policymakers, development experts, private sector leaders, and others-it served as a dynamic platform for cross-learning among emerging economies.
The Economic Relations Division (ERD) of the Ministry of Finance and the New Development Bank’s (NDB) Independent Evaluation Office (IEO) Internal Audit Department and Compliance and Investigations Department co-hosted the high-level seminar in the city focused on embedding accountability, evaluation, and integrity at the heart of development projects-key pillars for delivering on Bangladesh’s growth priorities.
Opening the event, Dr. Salehuddin Ahmed, Adviser of the Ministry of Finance, underscored Bangladesh’s commitment to strengthening governance in public investment. He emphasized that the foundation of sustainable development rests on three pillars: accountability, transparency, and ethical governance. Md Shahriar Kader Siddiky, Secretary of the Economic Relations Division (ERD), highlighted the importance of learning from international experiences and adapting global best practices to Bangladesh’s context.
Ashwani K. Muthoo, Director General of the Independent Evaluation Office (IEO) of NDB, expressed eagerness to deepen relations with the Bangladesh government and other agencies. He mentioned that Bangladesh is in the process of introducing a ‘National Project Evaluation Policy’ and that the NDB is ready to provide support in finalizing the policy.
The one-day event featured keynote addresses from global leaders in development policy. Nobel Laureate economist Abhijit Banerjee emphasized the value of evidence-based policymaking and timely impact evaluations. Dr. Rania A. Al-Mashat, Egypt’s Minister of Planning, Economic Development and International Cooperation, and NDB Governor, shared insights on strengthening project transparency through digital monitoring platforms.
Participants explored themes including the role of evaluation in achieving the United Nations’ Sustainable Development Goals (SDGs), private sector engagement in development, risk-based internal auditing, and ethical standards in development finance. These sessions were led by senior officials from NDB and enriched by perspectives from international partners such as the Asian Development Bank and the International Fund for Agricultural Development.
Henrique Pissaia from NDB’s Independent Evaluation Office remarked on the importance of accountability and learning as catalysts for better results, highlighting Bangladesh’s leadership in making learning, ethics, and South-South knowledge exchange central to development.