Economy
WB Executive Cites Developing Nations to Follow Bangladesh’s Development Trajectory
During a courtesy visit with Prime Minister Sheikh Hasina at her official Ganabhaban residence in Dhaka, World Bank (WB) Executive Director Parameswaran Iyer expressed that developing nations could find value in emulating Bangladesh’s development approach.
He commended the country’s remarkable progress, citing Prime Minister Sheikh Hasina’s strategic leadership and meticulous plans. Iyer conveyed his sentiment during a subsequent media briefing, highlighting that Bangladesh’s model could serve as an exemplar for other developing nations.
The Prime Minister shared insights with the WB official about her administration’s comprehensive uplift programs, aimed at fostering holistic development across Bangladesh. She underscored the transformative strides achieved through methodical planning and execution under her government’s guidance, particularly emphasizing poverty alleviation and improved quality of life for all citizens.
Acknowledging the enduring challenges posed by climate change, Prime Minister Sheikh Hasina noted Bangladesh’s resilience despite not being a significant carbon emitter. In response, Iyer pledged the World Bank’s commitment to assisting Bangladesh in implementing its Delta Plan-2100, recognizing the country’s vulnerability to environmental shifts.
Appreciating Bangladesh’s sanitation system, Iyer lauded it as remarkable. He also praised the vibrant role of the private sector in the nation’s development, characterizing it as thriving. Prime Minister Hasina affirmed her government’s dedication to fostering private sector growth, emphasizing their open-door policy and unwavering support for private enterprise.
In addition to the WB Executive Director and the Prime Minister, the meeting included the presence of Alternative Executive Director of the WB Dr. Ahmad Kaikaus, Prime Minister’s Office (PMO) Secretary Mohammad Salahuddin, and Economic Relations Division Secretary Sharifa Khan, among others.
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.
