UK assistance to rise to $300m by FY10
Thursday, 19 June 2008
Visiting UK Development Minister Shahid Malik Wednesday assured Bangladesh of increasing their annual assistance gradually to 300 million US dollars in a couple of years, reports UNB.
The assistance would be increased to 250 million dollars in 2008-09 and 300 million dollars in 2009-10 from 230 million dollars during the current fiscal year, he told journalists, after a meeting with Finance and Planning Adviser Mirza Azizul Islam at the Planning Ministry.
"The assistance is meant for poverty reduction and economic growth," Shahid Malik said, adding that the fund would be spent for the basic and priority needs of Bangladesh.
He also said that the UK was likely to commit an additional fund of US$ 100 million to contribute to a World Bank (WB) managed global fund on climate change where Bangladesh seems to be on top of consideration.
"Climate change is a very big issue for Bangladesh and it needs to be tackled effectively," he said, stressing the need for investment in this sector to reduce the risk of lives and damages.
Talking to journalists, the Finance Adviser said the UK Minister assured him of increasing their development assistance by 50 million dollars in addition to committed funds.
But the details whether it would be the development assistance or climate change fund was not yet worked out, he added.
Aziz said the UK Minister expressed solidarity with Bangladesh's two economic concerns - food security and climate change - while appreciated budget priorities on economic growth in one hand and social protection on the other.
He said they had also discussed on the London conference on climate change on September 10 this year where Bangladesh would come into focussed.
He was apprised that the UK government would take decision on their contribution to the global climate change fund by July end or early August this year.
The assistance would be increased to 250 million dollars in 2008-09 and 300 million dollars in 2009-10 from 230 million dollars during the current fiscal year, he told journalists, after a meeting with Finance and Planning Adviser Mirza Azizul Islam at the Planning Ministry.
"The assistance is meant for poverty reduction and economic growth," Shahid Malik said, adding that the fund would be spent for the basic and priority needs of Bangladesh.
He also said that the UK was likely to commit an additional fund of US$ 100 million to contribute to a World Bank (WB) managed global fund on climate change where Bangladesh seems to be on top of consideration.
"Climate change is a very big issue for Bangladesh and it needs to be tackled effectively," he said, stressing the need for investment in this sector to reduce the risk of lives and damages.
Talking to journalists, the Finance Adviser said the UK Minister assured him of increasing their development assistance by 50 million dollars in addition to committed funds.
But the details whether it would be the development assistance or climate change fund was not yet worked out, he added.
Aziz said the UK Minister expressed solidarity with Bangladesh's two economic concerns - food security and climate change - while appreciated budget priorities on economic growth in one hand and social protection on the other.
He said they had also discussed on the London conference on climate change on September 10 this year where Bangladesh would come into focussed.
He was apprised that the UK government would take decision on their contribution to the global climate change fund by July end or early August this year.