Relation with WB to reach a new height: Muhith

Relation with WB to reach a new height: Muhith


Bangladesh’s relations with World Bank (WB) will reach a new height, with the top official of this global development partner visiting Dhaka this week to recognise the country’s significant success in poverty reduction and mark the “End Poverty Day”.

Jim Yong Kim, the WB group president is arriving in Dhaka tomorrow to

participate in high-level talks, highlight Bangladesh’s progress toward ending extreme poverty and commemorate End Poverty Day.

“This will be a great occasion for us and we hope this visit will take our relations with the World Bank to a new height”, Finance Minister Abul Maal Abdul Muhith told BSS while commenting on the visit of the WB high official.

Referring to the long-standing relations with the WB, the finance minister said, the country would continue to receive higher assistance from the World Bank through its concessional window – International Development Assistance (IDA).

“We are expecting to get a fresh commitment of $75 billion IDA assistance,which will be much higher than the current commitment of $52.1 billion,” Muhith said.

He, however, said that the country would get $1.2 billion in grants this year from the WB in place of its earlier commitment of $1.8 billion.

“The grants will decline as we have not decided yet about a big road

infrastructure project because it requires further study,” the minister said,noting that the lower grant would not harm implementation of any other development projects.

The minister attended the annual meeting of the World Bank (WB) Group and International Monetary Fund (IMF)-2016, held from October 6 to 9 in Washington DC.

Referring to the discussion at the group meeting, he said, the major issue was the Annual Development Programme (ADP) and there was no problem unresolved.

“We have resolved all issues with the World Bank and hope further progress in the coming days”, he said.

On the eve of the Kim’s visit, WB Dhaka office in a statement said one of the major objectives of his visit would be exploring a bigger avenue for promoting private sector investment by strengthening governance and improving the investment climate.

During the visit of the WB top brass Bangladesh and its people will receive global recognition on October 17 for dramatically reducing poverty when the World Bank Group marks the End Poverty Day aiming to alleviating extreme poverty by 2030, WB said in a web-posting.

Kim will meet Prime Minister Sheikh Hasina and Finance Minister Abul Maal Abdul Muhith along with other senior government officials during his stay in Dhaka for broad ranging discussions on the country’s development progress and explore opportunities to deepen the World Bank’s engagement, reports BSS.


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