WB promises highest dev aid this year
Tuesday, 21 October 2008
Adviser for Finance Dr AB Mirza Azizul Islam Monday said the World Bank (WB) has promised 1.34 billion US dollar in aid to Bangladesh at its recent annual meeting in Washington DC, reports BSS.
The adviser told reporters at the Zia International Airport (ZIA) on his return from Washington DC after attending the WB meeting that it is the highest ever WB assistance so far to Bangladesh in any year.
He said the WB is always forthcoming in aid to Bangladesh. Especially this year the multilateral donor institutions like WB and Asian Development Bank are highly appreciative of various reforms that the present government has taken up for implementation.
These reforms have created a positive image for Bangladesh abroad to help increase the development assistance, it may be viewed from this perspective.
Out of the WB promised fund, 953 million US dollar will be available to finance seven major projects. Budgetary support to meet growing food demand, financing water and sewerage project of Dhaka city, Siddhirganj power project and emergency support to cyclone Sidr affected people to help them quickly overcome its impacts are some of these projects.
This money will be released during the July-December period. The remaining 38.1 million will be released during the December- June period ending the current fiscal 2008-09, the finance adviser said.
He said inclusion of Dhaka in the sub-committee of the WB run 'climate fund', which would take various mitigation projects to face the adverse impacts of climate change, is a big recognition to Bangladesh.
He said only Bangladesh has been given the opportunity to work on this committee from the side of the developing nations.
UNB adds: The finance adviser said the prices of imported essentials are not as administered as that of fuel oil so the government can reduce it in consistent with the declining trend on the international market.
"You should ask businessmen this question," he told reporters.
The finance adviser's was asked whether the government has any role in bringing down the prices of essentials like soybean and palm oil, wheat and sugar as well as the fuel oil in consistent with the substantial decline on the international market as an impact of the financial crisis.
Dr Aziz said it is natural that the businessmen would look for better facilities if they get to maximise their profits and they would try to get higher prices if people purchase the products. "These are not administered."
The adviser told reporters at the Zia International Airport (ZIA) on his return from Washington DC after attending the WB meeting that it is the highest ever WB assistance so far to Bangladesh in any year.
He said the WB is always forthcoming in aid to Bangladesh. Especially this year the multilateral donor institutions like WB and Asian Development Bank are highly appreciative of various reforms that the present government has taken up for implementation.
These reforms have created a positive image for Bangladesh abroad to help increase the development assistance, it may be viewed from this perspective.
Out of the WB promised fund, 953 million US dollar will be available to finance seven major projects. Budgetary support to meet growing food demand, financing water and sewerage project of Dhaka city, Siddhirganj power project and emergency support to cyclone Sidr affected people to help them quickly overcome its impacts are some of these projects.
This money will be released during the July-December period. The remaining 38.1 million will be released during the December- June period ending the current fiscal 2008-09, the finance adviser said.
He said inclusion of Dhaka in the sub-committee of the WB run 'climate fund', which would take various mitigation projects to face the adverse impacts of climate change, is a big recognition to Bangladesh.
He said only Bangladesh has been given the opportunity to work on this committee from the side of the developing nations.
UNB adds: The finance adviser said the prices of imported essentials are not as administered as that of fuel oil so the government can reduce it in consistent with the declining trend on the international market.
"You should ask businessmen this question," he told reporters.
The finance adviser's was asked whether the government has any role in bringing down the prices of essentials like soybean and palm oil, wheat and sugar as well as the fuel oil in consistent with the substantial decline on the international market as an impact of the financial crisis.
Dr Aziz said it is natural that the businessmen would look for better facilities if they get to maximise their profits and they would try to get higher prices if people purchase the products. "These are not administered."