UNDP seeks int'l support for Bangladesh to help absorb food, energy price shocks
Thursday, 20 March 2008
FE Report
Bangladesh needs more support from the international community, including oil-rich countries, to cope with the sharp global rise in prices of food and energy, the head of the United Nations Development Agency (UNDP) said Tuesday.
"The real issue is protecting the vulnerable from these shocks," said UNDP Administrator Kemal Dervis, who just completed a three-day visit to Bangladesh.
"The international community cannot leave these huge world events unattended," he added.
The appeal was made simultaneously from Dhaka, New York, and Bangkok, said a UNDP official Wednesday.
According to the UNDP, roughly 40 per cent of Bangladeshis live below the poverty line and poor households spend nearly 70 per cent of their income on food items, the cost of which rose 16 per cent in 2007, with the price of staples such as rice and oil climbing even sharper.
In addition to the global spike in prices, the situation in Bangladesh was exacerbated by two devastating floods and Cyclone Sidr, which decimated crops last year, UNDP said.
Another factor that makes assistance to Bangladesh crucial is the political climate, Mr. Dervis maintained. "It is determined to build stronger democratic institutions and deeper practices of democracy," he said.
"A successful democratic Bangladesh that can overcome political and economic difficulties is an example to other lower income countries, to the Muslim world, and many other countries facing similar problems," he added.
The situation in Bangladesh is exacerbated by food shortages resulting from two devastating floods and Cyclone Sidr that decimated crops last year.
Dervis noted that Bangladesh stands at an important moment in its history. "It is determined to build stronger democratic institutions and deeper practices of democracy. At the same time, it is facing enormous challenges, such as rebuilding after the devastating floods and Cyclone Sidr and responding to global price shocks," he said.
Dervis called on the international community to do more for Bangladesh. "Support from oil-rich countries, as well as other donors, could have positive benefits for Bangladesh and other lower income countries," he said.
"What happens here is particularly important to the people of Bangladesh, but a successful democratic Bangladesh that can overcome political and economic difficulties is an example to other lower income countries, to the Muslim world, and many other countries facing similar problems," he added.
During his visit to Bangladesh, he travelled to Jhalakati and Barisal, south of Dhaka, to visit UNDP-supported projects. He toured a voter registration centre where digital technology will prevent electoral fraud in the upcoming election, and a project to help slum dwellers create small businesses and build clean water sources and sanitation facilities.
"I had an opportunity to see with my own eyes the resilience of the people of Bangladesh in the face of considerable economic hardship," he added.
Bangladesh needs more support from the international community, including oil-rich countries, to cope with the sharp global rise in prices of food and energy, the head of the United Nations Development Agency (UNDP) said Tuesday.
"The real issue is protecting the vulnerable from these shocks," said UNDP Administrator Kemal Dervis, who just completed a three-day visit to Bangladesh.
"The international community cannot leave these huge world events unattended," he added.
The appeal was made simultaneously from Dhaka, New York, and Bangkok, said a UNDP official Wednesday.
According to the UNDP, roughly 40 per cent of Bangladeshis live below the poverty line and poor households spend nearly 70 per cent of their income on food items, the cost of which rose 16 per cent in 2007, with the price of staples such as rice and oil climbing even sharper.
In addition to the global spike in prices, the situation in Bangladesh was exacerbated by two devastating floods and Cyclone Sidr, which decimated crops last year, UNDP said.
Another factor that makes assistance to Bangladesh crucial is the political climate, Mr. Dervis maintained. "It is determined to build stronger democratic institutions and deeper practices of democracy," he said.
"A successful democratic Bangladesh that can overcome political and economic difficulties is an example to other lower income countries, to the Muslim world, and many other countries facing similar problems," he added.
The situation in Bangladesh is exacerbated by food shortages resulting from two devastating floods and Cyclone Sidr that decimated crops last year.
Dervis noted that Bangladesh stands at an important moment in its history. "It is determined to build stronger democratic institutions and deeper practices of democracy. At the same time, it is facing enormous challenges, such as rebuilding after the devastating floods and Cyclone Sidr and responding to global price shocks," he said.
Dervis called on the international community to do more for Bangladesh. "Support from oil-rich countries, as well as other donors, could have positive benefits for Bangladesh and other lower income countries," he said.
"What happens here is particularly important to the people of Bangladesh, but a successful democratic Bangladesh that can overcome political and economic difficulties is an example to other lower income countries, to the Muslim world, and many other countries facing similar problems," he added.
During his visit to Bangladesh, he travelled to Jhalakati and Barisal, south of Dhaka, to visit UNDP-supported projects. He toured a voter registration centre where digital technology will prevent electoral fraud in the upcoming election, and a project to help slum dwellers create small businesses and build clean water sources and sanitation facilities.
"I had an opportunity to see with my own eyes the resilience of the people of Bangladesh in the face of considerable economic hardship," he added.