World Bank to continue support to Bangladesh projects: Finance adviser
World Bank is happy about the reforms that are going on in Bangladesh, says the adviser
The World Bank has assured Bangladesh of continuing its assistance in ongoing projects along with the budgetary support, Finance Adviser Salehuddin Ahmed said today (13 July).
"It [World Bank] has expressed its satisfaction over the overall economic situation of the country," he told reporters after meeting Johannes Zutt, the World Bank's new Vice President for the South Asia Region, at his Secretariat office.
He said Zutt praised Bangladesh's progress despite facing a very difficult year.
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"We are very much happy to see the progress of the financial sector, balance of payment, foreign exchange sector, all is going well," the finance adviser quoted Zutt as saying.
He added that Zutt stressed the need to develop the private sector and increase Foreign Direct Investment (FDI) in the country. Zutt also said Bangladesh is performing well compared to other countries.
The adviser mentioned that Zutt recalled his time as the World Bank's country director in Bangladesh 15 years ago. Zutt noted that the country has made significant progress since then, especially in infrastructure, such as the metro rail.
"The World Bank will provide all kinds of support needed for Bangladesh," the adviser quoted Zutt as saying.
In response to a question, Salehuddin said the World Bank is pleased with the ongoing reforms in Bangladesh.
He said Zutt appreciated the central bank's efforts to restructure the banking sector.
"The macroeconomic situation of the country is on the right track," he quoted the World Bank official as saying.
About the US tariff issue, the adviser said the commerce adviser will share the outcome of the negotiations after returning from Washington.
"He will let us know which areas need tariff adjustments. There are tax policies and other issues involved, and we will look into them," he said.
The meeting also discussed the operations of the International Finance Corporation.
Answering another question, Salehuddin said the interim government has received all the support it requested from the World Bank.
He added that the next phase of expected support will be discussed at the World Bank-IMF Annual Meetings in October.
He also said the World Bank is happy with the reform steps taken in the financial sector, including those in the National Board of Revenue.
The discussions also covered Chattogram Port and the container terminal at Laldia. He said the World Bank will help with infrastructure development in these areas.
The World Bank vice president arrived in Dhaka on Saturday.
