Mobilizing foreign financing will create ambitious development of BD

Mobilizing foreign financing will create ambitious development of BD


Bangladesh has put emphasis on mobilizing foreign financing either from multilateral development agencies or from private sources for successful implementation of the ambitious development programmes of the country.“Mobilizing foreign financing either from multilateral development agencies or from private sources will the main factor for successful implementation of the ambitious development programmes of Bangladesh,” said the country statement which was delivered in the Midterm Review in Antalya, Turkey yesterday.
Bangladesh Ambassador and Permanent Representative to United Nations Masud Bin Momen delivered the brief statement during the fourth plenary meeting of the MTR on Istanbul Programme of Action.
The statement said Bangladesh has been continually experiencing over 6 per cent GDP growth rate and as per recent forecasted the GDP growth rate would reach 7.05 per cent by the end of this fiscal ending in June.
It mentioned the country experienced an impressive steady economic growth for last two decades despite challenges emerging from global economic recession.
“If two-criterion graduation formula had been considered, Bangladesh could have reached the target of getting out of LDC category,” said the statement.
It said few issues including export diversification and duty and quota free market access for goods for achieving its sustainable development.
The other issues are: addressing non-tariff barriers; preferential market access for services; and trade-related capacity building.
Bangladesh has made impressive gains during the first five year of the IPoA.

The country has continued to reach the value of graduation threshold in the Economic Vulnerability Index in several previous triennial reviews as well as in the 2015 review of the LDCs done by the Committee for Development Policy, said the statement.
The Global Competitive Index (2014-15) shows that Bangladesh has made progress in infrastructure performance rating, up from 2.4 (in 2009-10) to 2.8.
It termed the construction of the Padma Multipurpose Bridge without any financial assistance from development partners a hallmark achievement of the country/
The statement also said the private sector has been considered the most vibrant sector in the Industrial Policy of Bangladesh.
It also mentioned government achievement in different areas including around 100 per cent net enrolment in primary education and reduction of infant maternal mortality rate.
The statement reiterates that global migration regimes need to be reformed and LDCs must be allowed to reap the benefits of the population dividends by opening up opportunities to join international labour markets.
Meanwhile, Civil Society Forum in its report said overarching goal of the Istanbul Programme of Action (IPoA) to eradicate poverty, achieve internationally agreed development goals and enable graduation of at least 50 per cent of the Least Developed Countries by 2020 still remains a far cry.
The report, however, said the graduation prospects are promising for few countries, LDCs in general are lagging behind the IPoA goal on graduation from the LDC category.
Gaurı Pradhan, coordinator of LDC Watch handed over the report to Gyan Chandra Acharya, United Nations High Representative for the LDCs, Landlocked Developing Countries and Small Island Developing States and Secretary General of the event at a press conference.The escalating climate change crisis and frequency of natural disasters that have led to reversal of any development gains, said the report adding the LDCs are least responsible for climate injustice but ironically most affected being at the forefront, aggravating their development needs and increased burden.
Special attention should be given to those LDCs who have been undergoing painfully protracted political transition after internal conflicts, natural disasters and severe economic crisis towards building sustainable peace and transformation of just and equitable societies, said the report.
The report put emphasis for a structural transformation of the relations between rich and poor, powerful and powerless, men and women, the elites and those without resources, the dominant and the marginalised peoples.
It also urged the governments of LDCs to promote gender justice and guarantee in their development strategies the full enjoyment by women of their rights, as enshrined in domestic, regional and international laws.
Earlier, Gyan Chandra Acharya at a press conference said the LDCs are making progress in human development and reducing poverty.
He said five years after the adoption of the IPoA, 10 LDCs had reached the graduation thresholds and are currently at different stages of the graduation process.
Furthermore, he said an encouraging number of LDCs have announced their ambition to graduate around 2020.

Speaking at a sideline event Rezaul Karim Chowdhury, executive director of Coastal Bangladesh, demanded formation of tax commission by upgrading the tax committee to curb the illicit follow of money.
He put emphasis on ensuring freedom of express and assembling rights of the people in LDCs hand in hand with carrying out development activities.
The MTR of the IPoA takes place at Titanic Belek Hotel located onshore of the Mediterranean Sea immediately after the World Humanitarian Summit in Istanbul which also focused global attention on humanitarian crises, many of which disproportionate people in the LDCs.
High level officials from around the world have gathered in Antalya to assess the progress of the world’s LDCs and their path to sustainable development.
The meeting hosted by Turkey, included high level representatives and over two thousand stakeholders who come from government, parliaments, international and regional organisations, civil society, private sector, foundations, thinks tanks and media.


Comments are closed.