Economy
Eager to work with Prof Yunus-led interim government: US
The United States has trashed the speculation on US involvement in the recent student-led anti-government protests in Bangladesh, stressing that they are eager to work with the interim government.
“We continue to be ready and eager to work with interim government that’s led by Dr Muhammad Yunus as it charts its democratic future for the people of Bangladesh,” Deputy Principal Spokesperson Vedant Patel told reporters at a regular briefing in Washington yesterday ( September 9).
He said they are continuing to monitor the developments in Bangladesh closely.
Drawing his attention, one of the reporters said there have been claims about Chinese influence in Bangladeshi recent student protests.
In reply, Patel said he was just not going to speculate.
The reporter said some Indian media outlets have suggested US involvement in the anti-government protest in Bangladesh while India has historically been a close ally of the ousted government.
Patel said he had not seen those reports.
“But what I can unequivocally say is that they are not true. That’s probably why I’ve not seen them,” he added.
Nobel laureate and globally acclaimed economist Prof Muhammad Yunus was sworn-in as the chief adviser of the interim government on 8 August bringing hope for a new journey toward Bangladesh’s democratic future.
The US said they would support the interim government of Bangladesh and strengthen ties with Dhaka on a range of issues.
The US would work closely with Bangladesh on health, education, labour, governance, and the Rohingya issues.
Earlier, the US government congratulated the chief adviser and said it was looking forward to working together.
In a significant development today, September 17, the World Bank announced its intention to mobilize approximately $2 billion in new financing for Bangladesh within the current fiscal year. This substantial financial support aims to bolster critical reforms, enhance flood response, improve air quality, and strengthen the health sector.
During a meeting with Chief Adviser Dr. Muhammad Yunus at the State Guest House Jamuna in Dhaka, the World Bank’s Country Director, Abdoulaye Seck, affirmed the institution’s commitment to increasing its lending to Bangladesh. Seck emphasized the bank’s dedication to expediting support for the Interim Government’s reform agenda. “We are committed to assisting as swiftly and extensively as possible,” Seck stated, underscoring the bank’s focus on addressing the country’s pressing financial needs.
In addition to the new commitments, Seck revealed that the World Bank plans to reallocate approximately $1 billion from existing programs, following consultations with the Bangladeshi government. This move is in response to appeals from Chief Adviser Yunus to international development partners for enhanced support. The repurposing of these funds, combined with the new financing, is expected to elevate the total financial assistance to Bangladesh this fiscal year to around $3 billion.
Seck highlighted that the successful implementation of the proposed reforms is crucial for Bangladesh’s future, particularly for the nation’s youth, with approximately two million individuals entering the job market annually. Chief Adviser Yunus expressed the need for the World Bank’s flexibility in funding reforms and assisting in a new era of governance after 15 years of what he described as “extreme misgovernance.”
Yunus emphasized the necessity for a significant push to rebuild and create new structures from the current challenges. “We need your support to help us build anew and focus on the aspirations of our students,” he urged, calling on the World Bank to be a collaborative partner in this transformative journey.
The Asian Development Bank (ADB) has named Hoe Yun Jeong as its new Country Director for Bangladesh. Jeong will oversee ADB’s operations and lead policy discussions with the interim government, development partners, and stakeholders. He will also begin preparations for ADB’s upcoming Country Partnership Strategy (CPS) for Bangladesh, as the current strategy ends in 2025.
“I am eager to collaborate with the interim government and the people of Bangladesh to restore economic stability and implement necessary reforms for sustained growth,” Jeong stated, emphasizing the need for inclusive and climate-resilient development.
With 25 years of experience, including 15 years at ADB, Jeong has held senior roles in South Korea’s Ministry of Strategy and Finance and served in ADB’s India Resident Mission, where he played a key role in coordinating support for India’s G20 Presidency.
Bangladesh, a member of ADB since 1973, has received $61 billion in loans and grants from the bank. ADB’s current portfolio in Bangladesh includes 53 projects worth around $13 billion, with priorities spanning energy, infrastructure, education, and agriculture.
The Bangladesh Meteorological Department (BMD) has forecast light to moderate rainfall or thundershowers with temporary gusty winds in all eight divisions over the next 24 hours, starting from 9 am today.
According to the BMD, light to moderate rain or thundershowers, accompanied by gusty winds, are expected at a few places in Chattogram and Sylhet divisions, and at one or two places in Rajshahi, Rangpur, Dhaka, Mymensingh, Khulna, and Barishal divisions. Some areas may experience moderately heavy rainfall.
Additionally, both day and night temperatures may rise by 1 to 3 degrees Celsius across the country. On Monday, Sylhet recorded the highest temperature of 35.8 degrees Celsius, while today’s lowest temperature was 24.0 degrees Celsius in Rangamati, Chattogram Division.
In the past 24 hours, rainfall was recorded at 86 mm in Kumarkhali, Khulna Division. The sun is set to go down at 6:00 pm today in the capital, with sunrise expected at 5:46 am tomorrow.
