Finance Minister seeks help from World Bank to achieve development goals

Finance Minister seeks help from World Bank to achieve development goals

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Barrister Nihar Kabir said that though Bangladesh has done well in terms of handling the pandemic, there is no way to be complacent.

He suggested the government to pay more attention to enhancing competitiveness, making human resource efficient, eliminating delays in supply chain management and procedural delays in Chattogram port.

Through five decades of this remarkable journey, the World Bank has remained a steadfast partner of Bangladesh. In August 1972, Bangladesh became a member of the World Bank Group.

In November 1972, the first World Bank project for Bangladesh, an emergency recovery credit of $50 million was approved to help the war-torn nation to rebuild the transport and communications, agriculture and industry sectors, with some support for the construction and power sectors. it was done. At the same time, the World Bank reactivated four more projects that had been approved before the War of Liberation.

Since then, the World Bank has committed nearly $39 billion in International Development Association (IDA) financing in the form of grants, interest-free loans and concessional loans to help the country overcome its development challenges.

With approximately $15.3 billion in funding for 53 ongoing projects, Bangladesh currently has the largest IDA program, and the World Bank is Bangladesh’s largest development partner.

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