Sheikh Hasina has sought enhanced World Bank cooperation for Bangladesh’s smooth transition to a developing nation, subsequent graduation as an upper-middle income country and implementation of its Delta Plan-2100.
“Bangladesh is preparing for smooth and sustainable graduation from the UN LDC status in 2026,” the prime minister said at a plenary session celebrating 50 years of Bangladesh’s partnership with the global lender at its headquarters in Washington, DC on Monday.
“I request the World Bank to support our human capital and institutional capacity development programmes for a smooth transition.”
The critical International Development Association window needs to be preserved and continued, she said, according to state-run news agency BSS.
The prime minister placed five suggestions before the World Bank for its consideration.
She presented a picture of the Padma Multipurpose Bridge to World Bank President David Malpass, and said Bangladesh would continue to invest in infrastructure and logistics for realising its vision to become a high-income economy by 2041.
“I would expect the World Bank to engage in both our physical and social mega-projects in the coming years,” she said.
She said Bangladesh has aligned UN SDGs with its national aspiration to become an upper middle-income country by 2031.
“There is an urgent expectation that the World Bank and other development partners deliver increased, concessional and innovative financing for SDG implementation,” Hasina said.
She said the ongoing global crisis, caused by the pandemic, armed conflicts and climate emergency, has put most developing economies under serious stress.
But some of the development partners, despite the crisis, have chosen to increase their lending costs and interest rates, which detract from their core mandate, Hasina said.
“I call upon the World Bank and other development partners to find viable alternatives so that our economies can cope better with the emerging challenges.”
Bangladesh hopes that the World Bank’s enhanced engagement in climate action will help address the wide gaps in financing under the Paris Agreement, she said.
“We would stress the importance of equal distribution of financing between climate mitigation and adaptation,” the prime minister said.
Describing Bangladesh as a living laboratory of climate adaptation, featuring a number of nature-based and technological solutions, she said: “I invite the World Bank and other development partners to join us in implementing the projects under our Bangladesh Delta Plan 2100.”
Her ICT Adviser Sajeeb Wazed Joy, Foreign Minister AK Abdul Momen, Planning Minister MA Mannan, and Salman Fazlur Rahman, her adviser on private industry and investment, attended the event.
Malpass, the World Bank’s former chief economist Kausik Basu, and its Vice-President Martin Raiser also spoke at the programme.
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