World Bank pledged support for Bangladesh reforms, its vice president tells CA
The World Bank is supporting Bangladesh with a range of urgent reforms to improve transparency and governance, including in tax policy and administration, public procurement, and statistics, its Vice President Martin Raiser said today (11 February).
In a call on Chief Adviser Muhammad Yunus at the State Guest House Jamuna, Raiser reiterated the World Bank's pledge to support the reform agenda of Bangladesh's interim government.
They discussed issues of mutual interest, including the World Bank's financing of the country's major transparency, governance, and digitalisation reforms, including tax administration.
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Raiser said reforms are very important for Bangladesh's democratic transition and for future governments and inclusive growth.
"These reforms will help lay the foundation for future inclusive growth by strengthening people and businesses' confidence in the integrity of Bangladesh's institutions," said Raiser.
Raiser called for the separation of tax administration and tax policy to improve transparency and governance in the revenue system.
Raiser said parliament should be the sole authority to decide on tax exemptions.
The chief adviser explained his recent creation of a consensus commission to facilitate dialogue with the political parties over the reforms recommended by six major commissions.
"Once the political parties have reached consensus over the reforms, they will sign a July Charter, which will be implemented by the interim government and later by the political government," the chief adviser said.
Raiser also stressed the improvement of public procurement and the importance of the independence of the Bangladesh Bureau of Statistics to improve the quality of data, which is essential for sound policymaking.
The meeting also discussed the importance of a strong digitisation agenda, including details of the National Identification (NID), with Raiser saying the World Bank can help Dhaka connect with countries that have robust digital identification infrastructure.
