Bangladesh to sign new partnership framework with WB

Finance and Planning Minister Amir Khosru Mahmud Chowdhury said on Friday that Bangladesh would sign a new country partnership framework with the World Bank (WB), with a government delegation set to hold talks with the lender within two to three weeks to finalise the terms, reports BSS.
“Although there are no major disagreements over the fundamental policy issues, the two sides will determine the final details through discussions under a joint action plan,” he said.
Khosru made the remarks while briefing journalists on the sidelines of the annual meetings of the International Monetary Fund (IMF) and the World Bank Group in Bangkok.
Earlier in the day, the finance minister held meetings with representatives of Bank of America, Google, the IMF, Standard Chartered Bank and Moody’s at the Sirikit International Convention Centre. The discussions covered Bangladesh’s overall economic situation, debt-related issues, financial sector reforms and other matters.
Referring to the meetings, Khosru said the current year was particularly important for Bangladesh, a view also shared by international organisations.
The World Bank, the IMF and other development partners, including the Asian Development Bank (ADB), were working closely with Bangladesh to support its economic development and help it address global challenges, he said.

Reaffirming the government’s commitment to implementing its election manifesto and programmes, Khosru said it was preparing a specific development framework for the next five years.
Asked about remarks made by the World Bank president and the IMF managing director at a plenary session earlier in the morning, he said mutual cooperation and partnership remained key strengths for low-income countries amid the current global crisis.
He expressed hope that the heads of the two institutions would continue to support Bangladesh and promote joint efforts to meet public expectations and ensure sustainable development.
On the IMF loan proposal, Khosru said Bangladesh and the fund would hold further discussions over the next two weeks to finalise outstanding issues.
“In principle, everything is fine. Now, the two teams will sit together to discuss how to close the deal,” he said.
The meeting focused on the final review of a proposal submitted by Bangladesh to the IMF, the minister said.
All multilateral organisations were working closely with Bangladesh, he said, adding that bilateral partners, including the Japan International Cooperation Agency, were also keen to support the country.
Khosru said the coming year would be important for Bangladesh and that its development partners shared that view.