Prime Minister Sheikh Hasina has sought enhanced World Bank cooperation for Bangladesh’s smooth transition towards a developing nation, subsequent graduation as 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. I request the World Bank to support our human capital and institutional capacity development programmes for a smooth transition. The critical IDA [International Development Association] window needs to be preserved and continued,” she said.
The PM was speaking at the plenary session of an event titled “Reflection on 50 years of World Bank-Bangladesh Partnership” at the WB headquarters in Washington on Monday, reports BSS.
“My presence here [at the WB HQ] signals that we maintain our trust in the World Bank. Our success in the next two decades would depend on our collective ability and efforts to overcome the emerging challenges in a just and sustainable manner,” Hasina said.
World Bank Group President David Malpass said that they will support Bangladesh as it navigates a challenging global environment on its way to reaching upper-middle-income status by 2031.
“I am confident that with the right set of policies and timely action, Bangladesh can achieve its growth aspirations,” he said.
Bangladesh’s remarkable journey was made possible by the indomitable energy and resilience of its people and a national will to build a prosperous nation, the WB president said.
“We are proud of our partnership and look forward to opening the next chapter together with you,” he said, addressing PM Hasina.
Malpass also tweeted: “Many countries can learn from Bangladesh’s innovative approaches to reducing poverty, empowering women, and adapting to climate change.”
Hasina is now in Washington to celebrate 50 years of Bangladesh-World Bank partnership.
The PM and the World Bank president jointly opened a photo exhibition, walked through some of its key elements and also witnessed a dance performance.
A video presentation on the 50-year partnership was screened at the function.
Hasina also had a meeting with the WB executive board where she delivered an introductory speech.
After her speech, a number WB board members asked her about different issues relating to Bangladesh’s development journey, said a World Bank official present in the meeting.
Also on Monday, a deal of $2.25 billion was signed between Bangladesh and the WB to implement five projects.
Addressing in the plenary session, the Bangladesh premier put forward five specific suggestions before the WB for its consideration.
She said Bangladesh will 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.”
The PM 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,” she added.
Hasina mentioned that the ongoing global multiple crises, caused by the pandemic, armed conflicts and climate emergency, have put most developing economies under serious stress.
Despite the multiple crises, some of the development partners have chosen to increase their lending costs and interest rates, which detract from their core mandate, she 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.”
She said Bangladesh hopes that the WB’s enhanced engagement in climate action would help address the wide gaps in financing under the Paris Agreement.
“We would stress the importance of equal distribution of financing between climate mitigation and adaptation,” the PM said, adding that Bangladesh has emerged as a global role-model in disaster management and preparedness.
Describing Bangladesh as a living laboratory of climate adaptation, Hasina invited the WB and other development partners to join the country in implementing the projects under Bangladesh Delta Plan 2100.
About the Rohingya issue, the PM said Bangladesh has been working with the UN and other international agencies to secure safe, dignified and voluntary repatriation of Rohingyas to Myanmar, but not a single person has returned till date.
“The situation is getting increasingly difficult for us, with growing security implications for the wider region. I thank the World Bank for joining us in our humanitarian endeavor and for the $590 million grants for the Rohingya and their impacted communities,” she said.
Hasina said Bangladesh has offered shelter to the forcibly displaced Rohingya from Myanmar over the last four decades and their number has reached 1.2 million since their expulsion following mass atrocity crimes in August 2017.
PM’s ICT Affairs Adviser Sajeeb Ahmed Wazed, Foreign Minister AK Abdul Momen, Planning Minister MA Mannan, and PM’s Private Industry and Investment Adviser Salman Fazlur Rahman, among others, were present.
Former WB chief economist Kausik Basu also spoke at the programme.
Hasina arrived in Washington on April 28.
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