The World Bank is ready to help the interim government's reform initiatives
September 19, 2024Updated:September 19, 20242 Mins Read

Jumbangla Desk: A visiting top official of multilateral lender World Bank said today that the World Bank is ready to be part of the interim government's key economic reforms.

Vice President of the World Bank, Martin Ricer, Chief Advisor at Tejgaon office in Dhaka. He made this comment after meeting with Muhammad Yunus.

World Bank Vice President Riser said in response to the Chief Adviser's call for greater support in the interim government's efforts to overcome the economy's problems, tackle corruption and take fundamental reform steps in areas such as the judiciary. We are ready to help.'

Riser said the World Bank was "excited" by the government's reform agenda. He thinks 'it is worth visiting Bangladesh now'. "There are a lot of expectations," he said.

The visiting World Bank Vice President said that the World Bank is ready to support reform efforts in banking, taxation, customs, VAT, digitization, anti-corruption measures.

Professor Dr. Muhammad Yunus welcomed the Bank's assistance and said that the interim government has got a massive mandate from the people to get rid of corruption and start a new journey.

He said, this is the season of reforms. We want to start now.' A student-led mass uprising in July-August set the stage for major reforms in the existing system.

He also said, 'We don't want to go back. This movement completely rejected the past. Now it's a clean slate.'

Professor Yunus outlined the reform initiatives taken by his government so far and said that among the measures in the economic sector, corruption, labor reform and the development of the youth society are given top priority.

He said the government will implement the ILO Convention on Labor Reforms, which will increase the confidence of foreign investors in Bangladesh and help local manufacturers to gain a foothold in the international arena.

He said, 'We want to complete this work.' Bangladesh should also play a role in other sectors apart from the garments made in the global sector.

Praising the move to attract foreign direct investment, Raiser said annual FDI in Bangladesh is about half a percent of the country's GDP and is the lowest in the region.

Riser said the World Bank has approved $700 million for the Rohingya humanitarian crisis and host communities in Cox's Bazar.

The chief adviser said that he is interested in getting help for the millions of young people who grew up in Rohingya camps in Cox's Bazar. 'We need to focus on this.'

The meeting was also attended by Lutfe Siddiqui, Special Envoy of the Chief Adviser, Lamia Morshed, Senior Secretary and Head of SDG Affairs, Abdulaye Sek, World Bank Country Director, Shahriar Quader Siddiqui, Secretary of the Economic Relations Department and others.