Economy
PM Sheikh Hasina Advocates for World Bank Funding to Boost Women Entrepreneurs
In a meeting with World Bank Managing Director Anna Bjerde at the Sangsad Bhaban office on Sunday, Prime Minister Sheikh Hasina called for dedicated funding from the World Bank to empower women entrepreneurs in Bangladesh, aiming to enhance their socioeconomic status. She stressed the importance of additional concessional loans for climate change mitigation and adaptation projects. The Prime Minister’s commitment to financial inclusion and entrepreneurship among women was emphasized during the briefing, where she highlighted the significant contributions of women in various sectors. Sheikh Hasina urged the World Bank to establish a special fund for Bangladeshi women to accelerate their entrepreneurial ventures and socioeconomic progress, stating that this initiative would pave the way for new entrepreneurs.
She further underscored the government’s efforts in marketing products created by women entrepreneurs and integrating climate change and resilience considerations into development projects for sustainable growth. Sheikh Hasina emphasized Bangladesh’s position at the forefront of sustainable development and requested the World Bank to provide more concessional loans for climate change and climate resilience projects.
Addressing the issue of gender equality, the Prime Minister mentioned that her government gives the highest priority to women’s empowerment, with equal opportunities created for all. She highlighted women’s participation in various spheres of life, including the armed forces and agriculture, attributing this achievement to a change in mindset during the tenure of the Awami League government. Sheikh Hasina also noted the 30 percent quota ensured for women in local government elections.
Regarding the impact of the war in Ukraine on Bangladesh, the Prime Minister acknowledged a spike in inflation and shared that the central bank has introduced a plan to implement a crawling peg system for the taka to regulate abrupt fluctuations in its value.
World Bank Managing Director Anna Bjerde commended Bangladesh’s efforts in economic reforms and pledged continued assistance in advancing these reforms. She appreciated Bangladesh’s commitment to reforms and emphasized that the timely implementation of World Bank-funded projects would lead to the disbursement of funding for new projects.
The meeting was attended by PM’s Advisor Salman Fazlur Rahman, Principal Secretary Md Tofazzel Hossain Miah, and Economic Relations Division Secretary Md. Shahriar Kader Siddiky.
Expatriate Bangladeshis sent approximately US$ 2.11 billion in remittances during the first 28 days of September in the fiscal year 2024-25, according to data released by Bangladesh Bank on 29 September.
Of this total, state-owned and specialised banks handled $679.10 million, while private banks received $1.43 billion in remittances.
Chief Adviser to Bangladesh’s interim government, Professor Muhammad Yunus, has vowed to expedite reforms and hold elections swiftly. Yunus, who recently assumed the role after the collapse of Prime Minister Sheikh Hasina’s 15-year administration, expressed his commitment during an interview with Tokyo-based news outlet NHK WORLD in New York on Sunday. He was attending the United Nations General Assembly at the time.
Following mass student-led protests that ended Hasina’s long-standing rule in August, Yunus stepped in as the leader of the caretaker government. Known for founding Grameen Bank, an institution providing microloans to the underprivileged, Yunus, along with the bank, earned the Nobel Peace Prize in 2006 for his efforts in poverty alleviation.
During the interview, Yunus emphasized that the interim government’s primary mission is to implement reforms promptly and ensure elections are held as soon as the groundwork is complete. He underscored the importance of success, stating, “Failure is not something that we can accept.”
Addressing the pivotal role of students in the ousting of the Hasina administration, Yunus acknowledged the sacrifices made by young people, referring to their involvement as part of a “revolution.” He highlighted his intention to engage the younger generation in shaping policy.
Furthermore, Yunus called for continued support from Japan, Bangladesh’s largest donor, during this crucial transition period. He stressed that Japan’s assistance is vital to stabilizing Bangladesh’s economy and fostering a democratic foundation in the nation.
Syeda Rizwana Hasan, the Adviser for Environment, Forests, and Climate Change, announced today that steps will be taken to restrict the use of polythene shopping bags to safeguard future generations.
Starting from October 1, polythene bags will be banned in shopping malls, followed by a ban in kitchen markets from November 1.
“Everyone must take responsibility and stop using polythene voluntarily. Action against polythene producers will begin from November 1,” Rizwana Hasan stated during a seminar.
The Department of Environment (DoE) organized the seminar to raise public awareness about alternatives to banned polythene bags.
Rizwana Hasan highlighted that the restriction on polythene will be executed in phases according to legal provisions, and discussions with shopping centers and store owners are ongoing to ensure a smooth transition.
She also announced plans to make the government secretariat a plastic-free zone by December.
Other speakers at the seminar included Environment Secretary Dr. Farhina Ahmed, DoE Director General Dr. Abdul Hamid, Director Rajinara Begum, President of the Shop Owners Association Muhammad Helal Uddin, and Md. Arifur Rahman Bhuiyan, Assistant Professor of Environmental Science at BUP. They discussed the harmful effects of polythene and the need for alternative products.
Earlier, Rizwana Hasan inaugurated a fair showcasing eco-friendly alternatives to polythene bags and visited 24 stalls. The fair featured products from government and private entrepreneurs, including reusable bags, jute bags, paper bags, and items made from bamboo and cane.
