ERD expects to get Tk 135b in project aid for dev budget
Wednesday, 8 April 2009
FHM Humayan Kabir
The economic relations division (ERD) expects to receive Tk 135 billion in project aid for the development budget in fiscal 2009-2010, officials said Tuesday.
The amount will be Tk 15.00 billion higher than that in the current year's original development budget.
In the current Tk265 billion ADP budget, the government estimated an amount of Tk 120 billion coming from different bilateral and multilateral donors as project aid.
"As per the demand of the ministries we have prepared an estimated project aid worth of Tk 135 billion for the next year's ADP. We may propose the outlay to include it in the upcoming development budget," a senior ERD official told the FE.
"We have already started consultation meetings with the ministries to review their aid requirements," the official said.
After completion of the consultations in the next week the ERD will send the final project aid requirements of the ministries to the planning ministry to finalise the ADP for next FY2010.
The ERD will sit today (Wednesday) with the power and energy divisions, which receive bulk of development budget, in its office in Dhaka to review their aid requirements.
The ERD secretary M Musharraf Hossain Bhuyan will preside over the meeting.
As the newly elected government is committed to develop infrastructure including adequate power and energy supply, the project aid will be higher than the previous years, the senior ERD official said.
"The power, energy and agriculture sectors will be given more emphasis in the next development budget allocating higher funds than current year outlay," the official said.
The official said: "Besides, the global meltdown has started affecting the Bangladesh's economy. The government might depend on more foreign aid flow to implement its development works under pipeline as the domestic resources will be shrinking."
A senior planning ministry official said the ministry will incorporate only the important projects in the upcoming ADP aimed at preparing a realistic budget and keeping the deficit under control.
In the current FY2009, the overall budget deficit was estimated at 4.9 per cent of the gross domestic product (GDP).
The economic relations division (ERD) expects to receive Tk 135 billion in project aid for the development budget in fiscal 2009-2010, officials said Tuesday.
The amount will be Tk 15.00 billion higher than that in the current year's original development budget.
In the current Tk265 billion ADP budget, the government estimated an amount of Tk 120 billion coming from different bilateral and multilateral donors as project aid.
"As per the demand of the ministries we have prepared an estimated project aid worth of Tk 135 billion for the next year's ADP. We may propose the outlay to include it in the upcoming development budget," a senior ERD official told the FE.
"We have already started consultation meetings with the ministries to review their aid requirements," the official said.
After completion of the consultations in the next week the ERD will send the final project aid requirements of the ministries to the planning ministry to finalise the ADP for next FY2010.
The ERD will sit today (Wednesday) with the power and energy divisions, which receive bulk of development budget, in its office in Dhaka to review their aid requirements.
The ERD secretary M Musharraf Hossain Bhuyan will preside over the meeting.
As the newly elected government is committed to develop infrastructure including adequate power and energy supply, the project aid will be higher than the previous years, the senior ERD official said.
"The power, energy and agriculture sectors will be given more emphasis in the next development budget allocating higher funds than current year outlay," the official said.
The official said: "Besides, the global meltdown has started affecting the Bangladesh's economy. The government might depend on more foreign aid flow to implement its development works under pipeline as the domestic resources will be shrinking."
A senior planning ministry official said the ministry will incorporate only the important projects in the upcoming ADP aimed at preparing a realistic budget and keeping the deficit under control.
In the current FY2009, the overall budget deficit was estimated at 4.9 per cent of the gross domestic product (GDP).