WB reconfirms commitment to continue support to Bangladesh: Mercy Tembon

DHAKA The World Bank today reconfirmed the lending agency's commitment to Bangladesh and its people to help for achieving their goals and dreams.

A lot has been achieved and a lot needs to be achieved. I just want to reconfirm our commitment to continue support to the people of Bangladesh to achieve their goals and dreams, said the World Bank Country Director for Bangladesh and Bhutan Mercy Tembon.

She was briefing to reporters while a delegation of the World Bank Executive Directors met Finance Minister AHM Mustafa Kamal at a city hotel today.

The Finance Minister and World Bank Executive Director Patrizio Pagano also spoke at the briefing. Nine Executive Directors and two Alternate Directors are currently visiting Bangladesh.

Mercy Tembon said they are at the end of their Country Partnership Framework (CPF) with Bangladesh stretching from 2015-2019 adding, I'm so happy that we've delivered almost all the projects and we're in the last lap of doing that.

She informed that in January 2020, the World Bank is going to start its next CPF with Bangladesh for the next four years where it would be determined how much fund would be allocated for Bangladesh in various sectors.

It's coming up, the resources will be made available and we really want to move this country into the next level We all hope that the resources (allocations) are increased and Bangladesh is benefitted, she said.

Answering to a question, World Bank Executive Director Patrizio said in order to reach the government's target for achieving a double digit growth by 2024, the country needs to do a lot of things.

He said the country itself needs to raise its own resources, it need reforms to increase the revenue base in order to finance the investment needed to grow at such fast rate.

At the same time, if you want to grow fast, you also need to invest in your own people as investment does not mean only in infrastructure but also in human capital as well as in the areas of health and education and the country has done a lot in these areas,

Citing that life expectancy in Bangladesh is higher than any other country in this region, the World Bank Executive Director said, This means that the investment made over the years has been made in the right direction in order to help people.

Answering to a question, he said some funds are still available with the current allocation of the World Bank to Bangladesh in some special facilities and windows.

If the government decides, then we're ready to support, but of course with the right project, Lauding the impressive economic growth and success of Bangladesh, Patrizio hoped that growth would be more inclusive for Bangladesh in the coming days and it would touch upon all the countrymen.

He also stressed the need for a vibrant private sector to ensure growth in a fast and sustainable way since the private sector creates jobs for the people.

The World Bank Executive Director also extended thanks to the Finance Minister and also to the people of Bangladesh for hosting a huge number of forcibly displaced Rohingyas in Cox's Bazar from Myanmar.

The Finance Minister thanked the World Bank Group as they have been supporting Bangladesh since its inception.

We acknowledge their support and we hope they (WB) will be supporting us in our journey to reach our destination to become a rich, peaceful and prosperous country One day where there will be no discrimination as dreamt by Father of the Nation Bangabandhu Sheikh Mujibur Rahman, he added.

Kamal went on saying, Now we're going at a growth rate of 8 percent plus and we are expecting to grow over 10pc plus from 2024 and onwards and for that we've all the logistical support in our hands. Hopefully, we'll be delivering according to our plan.

Source: Bangladesh Sangbad Sangstha (BSS)