Bangladesh among ‘fastest growing’ economies in 2021: IIF

19 February, 2021 12:00 AM printer

Bangladesh is expected to remain among the fastest-growing world economies in 2021, said the International Institute of Finance (IIF) in its outlook.

The Washington-based IIF came up with this update on its website outlook for frontier Asian economies, assessing their key risks recently.

As per the outlook, Bangladesh and Vietnam are among the few countries that were able to maintain growth in 2020.

The IIF expected that both the countries will remain among the fastest growing economics in the world in 2021, saying the robust domestic demand and competitive manufacturing sectors, coupled with rebounding exports, will be the main growth drivers this year, reports BSS.

It, however, said economic slowdown has kept inflation in check, allowing for expansionary monetary policies with central banks cutting interest rates and taking additional measures to inject liquidity. Asian frontier markets have provided significant fiscal support to cushion the Covid-19 blow, the IIF cited. corporate loans, SME loans, MFI loans, structured finance and deposit schemes”, he said.

About the company’s future plans, Kanti Kumar Saha said that the Lankan Alliance has set a target of having Tk 3.69 billion loan portfolio in 2021 and a net profit of Tk 100 million.

In 2022, Lankan Alliance will work towards raising its loan portfolio to Tk 5.54 billion and net profit to Tk 140 million.

“We will be able to reach our target if we don’t have to make provision due to the NPL”, he asserted.

Jowher Rizvi said, “Lankan Alliance Finance is continuously investing in people, systems upgradation and products innovation to fulfill its commitment of client service.

“We are going to be a strong and reputed financial institution in South Asia,” he said when talking about their visions.