WB to align its future dev projects with govt's 31-point manifesto

The World Bank (WB) has expressed its willingness to align its future development projects in Bangladesh with the new government's 31-point electoral manifesto.
WB President Ajay Banga expressed the Bank's desire during a meeting with Bangladesh Finance Minister Amir Khosru Mahmud Chowdhury held on the sidelines of the ongoing International Monetary Fund (IMF)-World Bank Spring Meetings in Washington DC on Tuesday.
Briefing reporters at the end of the second day of the Spring Meetings, the finance minister noted that multilateral agencies and bilateral development partners were increasingly finding common ground with the country's strategic priorities.
"The most significant outcome is that the World Bank, along with other multilateral and bilateral agencies, is now aligned with our manifesto.
"Usually, development partners have their own specific agendas, which do not always coincide with national programmes. However, they have shown a strong preference for our 31-point charter," the minister said.
He noted that the BNP's election manifesto had been prepared well ahead of the election, following extensive planning and analysis.
As a result, the government had been able to begin implementation from day one, he said.
Khosru further highlighted that the World Bank chief had appreciated the "creative economy" initiatives outlined in the manifesto, describing them as innovative and globally relevant.
"They liked the programme to such an extent that there are even discussions about creating a separate portfolio for it," he added.
Addressing the IMF's recent projection of a 4.7 per cent Gross Domestic Product (GDP) growth for the current fiscal year, the finance minister sounded optimistic.
He remarked that as the new government had just assumed office, the positive impacts of its policy interventions would take time to reflect, eventually driving the growth rate higher.
Earlier, during a session on climate-vulnerable nations, the minister urged wealthy nations and development partners to expedite the release of promised climate funds.
He emphasised the urgent need for increased financial and technical assistance to mitigate the rising risks faced by countries like Bangladesh.
Bangladesh signed a $4.7 billion loan agreement with the IMF on January 30, 2023, amid economic strains triggered by the Covid-19 pandemic and the Russia-Ukraine war.
The IMF later extended the programme by six months in June last year and added $800 million, bringing the total package to $5.5 billion.
So far, Bangladesh has received $3.64 billion under five tranches - $476.3 million in February 2023, $681 million in December 2023, $1.15 billion in June 2024, and $1.33 billion in June 2025, leaving $1.86 billion yet to be disbursed.
The IMF was due to release another tranche last December, but withheld it pending discussions with an elected government.
A 14-member delegation, led by Khosru, is attending the Spring Meetings.
The team includes 11 members from Bangladesh, while three others joined in Washington.
Finance Secretary DrMdKhairuzzamanMozumder, National Board of Revenue (NBR) Chairman MdAbdur Rahman Khan, Bangladesh Bank Governor MdMostaqur Rahman, Economic Relations Division Secretary MdShahriar Kader Siddiky, and senior officials of the ministries and divisions are members of the panel.
Several business dignitaries, including Basumati Group Chairman ZM Golam Nabi, are also in attendance at the high-level gathering.
The Spring Meetings began on April 13 and will conclude on April 18.

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