World Bank supports Bangladesh's economic policy: Finance Minister

The Finance Minister said this to journalists after a meeting with the World Bank's Managing Director in Bangkok, Thailand, on Tuesday (October 13). He said when the current government took office, the country's economy was in crisis. Along with the financial liabilities of the previous period, the effects of global conflicts also have to be tackled. The World Bank understands these realities and agrees with the government's economic programs.

No decision on $10 billion assistance

Regarding seeking additional $10 billion assistance from the World Bank, the Finance Minister said no final decision has yet been made on this. Discussions are ongoing, and based on that, the proposal will be reviewed later. The entire process may take several months.

He said the ongoing discussions cannot be seen as a final decision. Rather, discussions are underway to determine the framework and course of action for future cooperation. Discussions on this will continue in Dhaka as well.

Consistency of policy with election manifesto

The Finance Minister also claimed that the World Bank's position is consistent with the government's economic plan and BNP's election manifesto. He said Bangladesh has submitted a written proposal to determine the partnership framework with the World Bank. Both sides presented their recommendations and suggestions. Based on these, the next round of discussions will be taken forward.

Hope for achieving inflation and growth targets

Regarding the forecasts of the World Bank and the Asian Development Bank (ADB) on inflation and gross domestic product (GDP) growth, the Finance Minister said the government does not want to get into debate over other organizations' projections. The organizations have given forecasts based on their own calculations and analyses. The government is also working to achieve the targets set in the budget.

The Finance Minister expressed hope that it will be possible to meet the targets set in the budget for inflation and economic growth. He also said the government is working to restore stability in the economy through cooperation with the World Bank and implementation of medium- and long-term development plans.