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World Bank lauds Bangladesh's growth, despite downturn


Date: 2021-08-17

News Type: Marketing News


World Bank lauds Bangladesh's growth, despite downturn

The World Bank has acknowledged Bangladesh’s remarkable economic development and growth, and reassured the global lender's continued support for this country's prosperity.

Private Industry and Investment Adviser to the Prime Minister, Salman Fazlur Rahman, met with World Bank’s Managing Director (Operations) Axel van Trotsenburg and other high-ranking officials at its global headquarters in Washington DC recently.

Salman led the Bangladeshi delegation, which included Abdur Rouf Talukder, Senior Secretary, Finance Division, Ministry of Finance, Executive Chairman of Bangladesh Investment Development Authority (BIDA), Secretary, Ministry of Commerce, Secretary, Economic Relations Division, Ministry of Finance, and Chairman of the Securities and Exchange Commission, reports UNB.

In addition to Trotsenburg, the World Bank Group was also represented by John F Gandolfo, Vice President (South Asia Region), International Finance Corporation (IFC), and Mohammad Shafiul Alam, Bangladesh’s Alternate Executive Director to the global financial institution.

In the meeting with the World Bank’s MD, Adviser Salman highlighted Bangladesh’s unprecedented economic development under the leadership of Prime Minister Sheikh Hasina reiterating that the country's economy was on a solid footing.

In particular, he underscored Bangladesh’s economic performance and the GDP growth of 5.24 per cent despite the pandemic-induced economic downturn. Salman recalled the continued financial assistance provided by the World Bank to Bangladesh and thanked the global lending body for its contribution.

He also highlighted the need to reduce procedural delay -- through bilateral discussions and close engagement -- in the disbursement of the loans sanctioned by the World Bank for Bangladesh to purchase Covid-19 vaccines on an emergency basis.

At a separate meeting, the Bangladesh delegation led by Adviser Rahman met with IFC’s South Asia Vice President and the World Bank’s acting South Asia Vice President.

Both sides agreed to accelerate cooperation in crucial areas, including Bangladesh’s reform efforts regarding ease of doing business, BIDA’s institutional capacity enhancement, and skills and human resources development.


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