Martin Raiser has reaffirmed the global lender’s commitment to Bangladesh amid economic challenges
https://somoyjournal.com/news-post/42606/Martin-Raiser-has-reaffirmed-the-global-lender%E2%80%99s-commitment-to-Bangladesh-amid-economic-challenges
Jamal Uddin:
World Bank (WB) Vice President for South Asia, Martin Raiser, visited Dhaka from February 8 to 12, reaffirming the global lender’s commitment to Bangladesh amid economic challenges. The visit focused on bolstering development efforts, including energy sector reforms, financial stability, and inclusive growth strategies.
On February 11, Raiser met with Chief Adviser Professor Muhammad Yunus, reiterating the WB’s support for Bangladesh’s reform agenda.
Prof Yunus detailed his initiative to create a consensus commission to facilitate dialogue with political parties on key reforms recommended by six major commissions.
Discussions centered on WB financing for governance, transparency, and digitalization reforms, including tax administration. Raiser emphasized that reforms are critical for Bangladesh’s democratic transition and future growth, reinforcing trust in institutions. He urged the separation of tax administration from tax policy to enhance governance and transparency, stating that Parliament should have sole authority over tax exemptions.
Raiser also highlighted the need for improved public procurement systems and stressed the independence of the Bangladesh Bureau of Statistics to ensure reliable data for policymaking. Additionally, he underscored the significance of a strong digitization agenda, particularly in developing the National Identification (NID) system. He noted that the WB could facilitate connections with countries that have advanced digital identification infrastructures.
With a focus on transparency and institutional integrity, Raiser emphasized that the successful implementation of these reforms would be crucial in shaping Bangladesh’s future economic trajectory.
The visit reaffirmed the WB’s role in supporting Bangladesh’s long-term economic resilience, governance reforms, and inclusive development strategies.
Over the years, the WB has committed approximately $44 billion to Bangladesh, primarily in grants and concessional credits.
On February 12, Raiser visited United International University’s Innovation Center, engaging with students and faculty on digital transformation and entrepreneurship.
During the visit, he also held meetings with senior officials of the interim government, including the finance and energy advisers, the Bangladesh Bank governor, and other key officials.
Somoyjournal/MI
