Better business environ to be mid-income nation: WB

Bangladesh needs to improve governance and business environment to become a middle income country (MIC), World Bank Vice President for South Asia Annette Dixon said.
The newly appointed bank executive also suggested the government close the power and transportation gaps, manage urbanisation, reduce climate change impacts, and improve the public service delivery to help the country graduating into middle-earner nation.
"The World Bank is keen to support Bangladesh in achieving its vision of becoming a middle-income country…. Going forward, the World Bank will help Bangladesh to clear bottlenecks that impede faster growth and to connect to regional and global markets. " Dixon said after completing her four-day visit in Bangladesh Wednesday.
Ms Dixon, ended a 4-day visit Wednesday, intended to to watch WB-led development works.
In a statement, the bank's Dhaka office said Ms Dixon pledged strong support for the people to achieve the goal of becoming a MIC by the end of this decade.
The Vice President said the global lender is working on providing nearly US$2.0 billion by the end of this financial year 2014-15.
"The World Bank remains committed to working with Bangladesh to reduce poverty and bring prosperity to all Bangladeshis, she said, adding the bank has already approved more than $1 billion in new financing this fiscal and is on track to deliver nearly $2 billion by the end of June.
"Bangladesh is recognised globally for making remarkable progress in reducing poverty and advancing human development.  Other countries can learn from Bangladesh's rich development experience," said Ms Dixon.
She met with senior government officials, including the Finance Minister and the Bangladesh Bank Governor, and discussed how WB support can be best aligned with the country's priorities.
She also met civil society and private sector leaders and development partners. Dixon also visited the Export Processing Zone in Chittagong and a government health facility in Dhaka.
The World Bank is the largest development partner of Bangladesh, committing more than $19 billion concessional loan credits to advance Bangladesh's development priorities since the country's independence.
The current bank portfolio in Bangladesh consists of 32 projects, with a total commitment of $7.5 billion.
Its private sector arm-- the International Finance Corporation-- has a portfolio 35 projects with investment commitments of $668 million.
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