6.4pc GDP growth for Bangladesh: ADB projects
The Asian Development Bank (ADB) projected Thursday Bangladesh’s economic growth at 6.4 per cent in the current fiscal, backtracking from its earlier conservative estimate.
Eight months ago in January last, the ADB in its Asian Development Outlook (ADO) 2014 said Bangladesh’s gross domestic product (GDP) would grow at 6.2 per cent in the current financial year (FY) 2014-15.
“Exports and remittances are expected to perform better than projected earlier. Moreover, the government is seen stepping up project implementation and private investment will likely pick up on post-election political stability,” said the ADO 2014 Update, released Thursday in Dhaka.
Dhaka should focus on high-end finished goods for exports
To bridge the trade gap with Malaysia which is now heavily in favour of the Southeast Asian country, Bangladesh needs to concentrate on high value and high-end finished products through export diversification, said the Malaysian envoy here on Monday.
“We need high value and high-end finished products (from Bangladesh),” Malaysian High Commissioner in Dhaka Norlin Othman told a ‘Meet-the-Press’ programme at the Jatiya Press Club.
The diplomat also suggested the exporters to diversify their products what they are cur...
The diplomat also suggested the exporters to diversify their products what they are cur...
No extension of ECF deal with IMF: Muhith
Finance minister AMA Muhith on Sunday said the government turned down a proposal from the International Monetary Fund (IMF) to renew the deal on extended credit facility that will expire early next year.
He said the government would also fix a deadline for the Korean Export Processing Zone for full utilisation of 2,500 acres of land they were allocated in 1996 at Anwara in Chittagong.
Muhith was taking to reporters after a meeting with the visiting Asian Development Bank officials at his secretariat office, reports the New Age.
He said ...
He said ...
Divisive politics, red-tape, rent-seeking key challenges: WB
The World Bank has identified confrontational politics and bureaucratic red-tape as key challenges for Bangladesh to speed up growth and promote itself as a middle-income country by the early next decade.
Sharing views with the newsmen at the WB office at Agargoan on Monday, WB country director Johannes Zutt said divisive and confrontational politics could bring uncertainty in policy decisions, reports the New Age.
Uncertainty affects the process of addressing critical problems, he added.
He said bureaucratic red-tape as well as widespread rent-seeking impedes economic growth and investment.
ADB signs $ 125m loan to help BD municipalities
The Asian Development Bank (ADB) and the Bangladeshi government Wednesday signed an agreement for a 125 million U.S. dollars loan to improve services and governance in pourashavas (municipalities), making them more livable and attractive, and helping to ease population pressures in major cities.
Mohammad Mejbahuddin, secretary of Bangladesh’s Economic Relations Division (ERD), and Kazuhiko Higuchi, country director for ADB’s Bangladesh Resident Mission, signed the agreement on behalf of their respective sides at a ceremony in Dhaka.
“Bangladesh ...
Mohammad Mejbahuddin, secretary of Bangladesh’s Economic Relations Division (ERD), and Kazuhiko Higuchi, country director for ADB’s Bangladesh Resident Mission, signed the agreement on behalf of their respective sides at a ceremony in Dhaka.
“Bangladesh ...
WB changes approach to tackling corruption in BD
After the much-publicised Padma bridge episode, the World Bank (WB) has now realigned its approach to tackling corruption in projects.
Previously, the multilateral lender would wash its hands off projects as soon as allegations of corruption surfaced. But now, in essence, it will carry on with the projects but will work with local authorities to identify and snuff out the issues.
“When evidence of corruption comes to light, its response should not be to disengage, but to engage differently,” it said in its Country Assistance Strategy Progress Report.
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