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WB to Boost Support for Bangladesh with $3bn in New, Repurposed Funds

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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.

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UN General Assembly Adopts Resolution Backing ICJ’s Ruling on Israel’s Occupation of Palestinian Territories

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The United Nations General Assembly, during its 10th Emergency Special Session, adopted a landmark resolution endorsing the International Court of Justice’s (ICJ) advisory opinion, which declared Israel’s occupation of the Palestinian territories as illegal under international law. The resolution, initiated by Palestine, garnered the co-sponsorship of 53 countries, including Bangladesh, as per a statement received today.

The resolution was passed on Wednesday through a vote, with 124 countries in favor, 14 against, and 43 abstaining. Bangladesh, as a co-sponsor, voted in favor of the resolution.

During the debate at the General Assembly, Bangladesh’s Permanent Representative to the UN, Ambassador Muhammad Abdul Muhith, delivered the nation’s statement. Muhith praised the ICJ’s advisory opinion, describing it as historic, and urged all member states to comply with the ruling. He also expressed deep concern over the ongoing violence and high civilian casualties in Gaza, calling for an immediate ceasefire, referencing UN Security Council resolution 2728.

Ambassador Muhith emphasized that a two-state solution, based on the pre-1967 borders of Palestine, is the only viable path to achieving lasting peace in the Middle East. He commended the roles played by the ICJ and the International Criminal Court in holding Israel accountable for illegal occupation and atrocity crimes in the Occupied Palestinian Territories.

The permanent representative also acknowledged the efforts of the UN Secretary-General and the UN High Commissioner for Human Rights, who have addressed the severe humanitarian and human rights crisis unfolding in Gaza.

The resolution, in line with the ICJ’s recent verdict, calls on Israel to cease its illegal presence in Palestine, marking the first step toward ending its military campaign in Gaza. It further advocates for the creation of an international mechanism to provide reparations for damages, losses, or injuries resulting from Israel’s internationally wrongful actions in the Occupied Palestinian Territories.

Additionally, the resolution requests the UN Secretary-General to submit a report on the implementation of these directives. It also emphasizes the need for accountability regarding atrocity crimes committed by Israel, particularly in light of the Fourth Geneva Convention on the protection of civilians during conflict.

The General Assembly has also resolved to convene an international conference within the next year, aimed at finding a pathway to establishing an independent Palestinian state. This resolution is widely seen as a significant step toward resolving the Middle East crisis through the implementation of the two-state solution.

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Govt to Import 4 Lakh Tonnes of Wheat, 2 Lakh Tonnes of Rice to Strengthen Food Security

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The government has decided to import 4 lakh tonnes of wheat and 2 lakh tonnes of rice in a proactive move to secure the nation’s food supply. The decision was approved by the Cabinet Committee on Economic Affairs during a meeting held on Wednesday, September 18, 2024, chaired by Finance and Commerce Adviser Dr Salehuddin Ahmed.

This import initiative will take place within 15 days of tender submissions through government-to-government (G2G) arrangements, aimed at swiftly addressing potential food shortages.

While the current food grain stock is stable, Dr Salehuddin emphasized that the import decision is a preventive measure. “Although immediate imports aren’t necessary at this moment, we aim to eliminate any risk of food shortages and assure the public that both food grains and fertilisers will remain available,” he stated.

Regarding pricing, a provisional rate for the food grains has been established, but final prices will be confirmed prior to import execution.

The committee also approved reducing the timeline for international tenders for rice and wheat imports from 42 days to 15 days, starting from the tender advertisement date. This adjustment is expected to expedite the import process and maintain a steady supply chain.

Moreover, the government has greenlit the G2G procurement of rice and shortened procurement procedures as per Rule 83 of the Public Procurement Rules 2008. Both international open tenders and G2G agreements will be used to uphold food security and ensure effective distribution.

For the fiscal year 2024-25, the government aims to collect 3.5 lakh tonnes of rice from international sources and 19.23 lakh tonnes from domestic producers. The wheat target stands at 7 lakh tonnes from international markets and 10,000 tonnes locally.

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PM Modi not expected to meet Bangladesh’s Yunus on UN General Assembly sidelines

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Prime Minister Narendra Modi is not expected to meet Bangladesh interim government chief Muhammad Yunus on the margins of the United Nations General Assembly next week, people familiar with the matter said on Wednesday.

Earlier this month, the Bangladesh side made a formal request for a meeting on the sidelines of the General Assembly, which both leaders are set to attend. Dhaka was keen on a meeting in the hope it would help clear the air over irritants that have emerged in bilateral ties since the fall of the Sheikh Hasina government, the people said on condition of anonymity.

The people said such a meeting is not part of the Indian side’s agenda. Besides, Modi will have a packed schedule for his three-day visit to the US, as he is set to attend the Quad Leaders’ Summit in Wilmington, Delaware, on September 21 and address the Summit of the Future at the UN General Assembly on September 23.

“The PM is expected to have some bilateral meetings on the sidelines of the General Assembly in New York but a meeting with the head of Bangladesh’s interim government isn’t on the schedule,” one of the people cited above said.

Besides scheduling issues, comments by Yunus on India-Bangladesh relations in a recent interview and near-daily remarks by members of the interim government in Dhaka perceived as critical of India have not gone down well in New Delhi.

In the interview, Yunus criticised former premier Sheikh Hasina for commenting on developments in Bangladesh while in exile in India. He suggested Bangladesh could seek her extradition and said India should move beyond the “narrative” that every political party other than Hasina’s Awami League is “Islamist”.

Other members of the interim government, including de facto foreign minister Touhid Hossain, have repeatedly raked up the possibility of seeking the extradition of Hasina, who fled to India after stepping down on August 5. Hossain also acknowledged any such move would create an “embarrassing situation for the Indian government”.

India’s leadership has said Hasina was granted approval to come to the country at short notice. Hasina has been largely incommunicado while in India, where she is at an undisclosed safe location. The external affairs ministry has refused to be drawn out on any possible Bangladeshi request for her extradition, describing it as a hypothetical matter.

The people cited above said a meeting between Modi and former US president Donald Trump too was not part of the Indian side’s agenda though an encounter between the two leaders in New York could not be ruled out.

Trump said at a campaign event in Flint, Michigan, on Tuesday that he will meet Modi next week but gave no details on where the meeting would be held. Trump also said India was a “very big abuser” of the US-India trade relationship. Some other world leaders who visited the US in recent months for meetings with President Joe Biden and other multilateral events have met Trump as well.

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