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dev partners

Offshore Taka bond program, IFC to strength capital markets

IFC, a member of the World Bank Group, announced on October 11 that it has received an approval from Bangladesh’s Ministry of Finance for the first ever offshore Taka bond program. The $1 billion-equivalent bond program aims to strengthen capital markets and increase foreign investment in Bangladesh. Under the program, IFC will issue the first Taka-linked bonds in the offshore market and bring IFCthe proceeds back to finance investment in Bangladesh. The bonds will be listed on the London Stock Exchange, according to IFC. “Domestic capital markets are critica...

ADB to lend $ 45m for water resource project

The Asian Development Bank (ADB) is part-funding expansion of a water resources project in southwest Bangladesh that has sharply increased agriculture production and benefited nearly 200,000 people, it said on Tuesday.
ADB is providing a $45 million loan and the government of the Netherlands is expected to give a grant of $7 million. Both provided initial funding for the scheme, which was approved in 2005. [caption id="attachment_20187" align="alignleft" width="540"]A farmer carries a stack of jute to be dried in Manikga...
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WB pledges strong support for BD’s development

World Bank (WB) Vice President for the South Asia Region, Annette Dixon, has pledged strong support for the development of Bangladesh. Dixon praised Monday Bangladesh’s progress in poverty reduction and economic development during her second visit to the country in her current role, Xinghua reported. “The World Bank will continue to support Bangladesh in areas necessary to move up within middle income country status. Bangladesh will need sustained reform efforts for further wbadvancement,” said Dixon. The World Bank classified Bangladesh as a lower-middle cou...

ADB forecasts 6.7pc GDP growth

Bangladesh economy is expected to perform strongly this year, according to the latest figures from the Asian Development Bank (ADB). ADB in its outlook update 2015 forecasted that Bangladesh’s Gross Domestic Product (GDP) growth will be 6.7 percent this fiscal year, up from 6.5 percent in the previous year. adb1“Brisk domestic demand, supported by remittances, public investment and manufacturing for domestic market pulled the economic growth in FY2015,” Kazuhiko Higuchi, country director of ADB, said at a media briefing at the Bank’s Dhaka office today. T...

ILO starts labour inspection training course

The Department of Inspections for Factories and Establishments (DIFE) along with Bangladesh Institute of Administration and Management (BIAM) and International Labour Organization’s (ILO) Improved Working Conditions in the Ready-made Garments Sector Programme, have designed a 40-day course called Foundational Training for Labour Inspection Officials. The course aims to improve the professional skills of inspectors and focuses on labour market-related policies and programmes, occupational safety and health, international labour ILOstandards and bangladesh labour l...

Qatar Charity provides water in Bangladesh

Qatar Charity (QC) has reached out to Bangladesh which is caught in the grip of a drought. QC started a project in Nouga, which has suffered a shortage of drinking and irrigation water and other basic services, resulting from a drought in the region. The project is wide-ranging in the facilities it is offering. It comprises 12 water units with networks for the people and lands, a health centre with outpatient clinics, inpatient beds and laboratories and a school for children, at a cost of over QAR2m. People collect water at a refugee camp for Muslims ...
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