NDB team in Dhaka to strengthen collaborations for sustainable development
A seven-member high-level delegation from the New Development Bank (NDB), headed by its Vice President and Chief Operating Officer Vladimir Kazbekov, is currently on a visit to Bangladesh from 21-23 January.
This visit aims to strengthen ties and explore potential collaborations to support Bangladesh's sustainable development initiatives, reads a press release.
Today, the Vice President held a meeting with the Finance Minister at ERD, marking the beginning of their engagements.
Keep updated, follow The Business Standard's Google news channel
During the meeting, the finance minister extended a warm welcome to the NDB vice president, expressing gratitude for the bank's active involvement in Bangladesh's critical projects.
These projects specifically involve the establishment of a new water supply network in select areas of the city and the replacement of the aging gas network in Dhaka and Narayanganj.
Discussions primarily focused on advancing infrastructural development across diverse and productive sectors, including transport, clean energy, energy efficiency, water and sanitation, and tourism.
The finance minister emphasised Bangladesh's promising growth trajectory, highlighting the need for substantial investments in key sectors through unconventional means, including blended finance, private sector facilitation, policy support and increased concessional climate finance.
In the face of the ongoing global financial crisis, he expressed hope that NDB would innovate new financial instruments to support both public and private sector development. The proposal to explore multi-currency operations in Bangladesh was also discussed.
In response, Vladimir Kazbekov, VP, NDB congratulated the finance minister on his recent appointment and commended the new government under the leadership of Prime Minister Sheikh Hasina.
He assured a deepening of economic relations with Bangladesh and pledged increased collaborations to support sustainable development initiatives.
Bangladesh holds the distinction of being the first country to join the New Development Bank after its original members in September 2021. This membership has paved the way for a new partnership, aligning with Bangladesh's development vision.
The country successfully completed its tenure as the initial director for a constituency formed in collaboration with the UAE and Egypt, spanning from September 2021 to June 2023.
Bangladesh formulated "The New Development Bank Act, 2023" in November 2023 to ratify NDB's Agreement.
The ongoing visit by the NDB delegation involves discussions with high-level government officials and dignitaries to explore potential financing opportunities, contributing to Bangladesh's journey towards a higher development trajectory.
