WB renews its commitments to Bangladesh; stands ready to work with interim govt

The World Bank reaffirmed its commitment to Bangladesh today (13 August), expressing readiness to collaborate with the interim government headed by Nobel laureate Professor Dr Muhammad Yunus as the chief adviser.

"We renewed our World Bank Group's commitments and we stand ready to work with the interim government to continue the long standing strong partnership between the World Bank and Bangladesh with a commitment of over $42 billon since 1972," Country Director of the World Bank in Bangladesh and Bhutan Abdoulaye Seck said after meeting Finance and Planning Adviser Dr Salehuddin Ahmed at the latter's ERD office.

The country director said they renewed their commitments to the people of Bangladesh to make sure carrying out reforms which are critical for the country, the financial sector, important trade reforms, business climate and so to the agenda of private-sector led jobs creations for young people, the agenda of inclusion, agenda of resilience to climate risks.

Asked whether there is any concern over Bangladesh's capacity to repay foreign loans, Seck said it has never been a concern for Bangladesh over the last 50 years since Bangladesh has been a reliable partner. 

The World Bank country director also expressed heartfelt condolences from the World Bank Group at the loss of lives at the recent student-led quota reform movement and the mass uprising that led to the ouster of former Prime Minister Sheikh Hasina.

Following the meeting, Dr Salehuddin expressed the World Bank Group's unwavering commitment to supporting the people of Bangladesh within the framework of existing rules and regulations.

He said to make the country's economy more active, the government is seeking all sorts of support from its development partners especially from the World Bank and the IFC.