According to World Bank Country Director Abdoulaye Seck, the bank is dedicated to providing more loans to Bangladesh during this fiscal year in order to support the Interim Government’s reform plan.
According to Abdoulaye Seck, the World Bank can raise an additional $2 billion in funding for important reforms, flood relief efforts, improved air quality, and public health during this fiscal year.
When Seck visited Chief Adviser Professor Dr. Muhammad Yunus at the State Guest House Jamuna in Dhaka, he discussed the new support.
Seck stated, “We would like to support you as fast as possible and as much as possible,” and the bank will take care of the nation’s pressing financial requirements.
In response to the Chief Advisor’s appeals for support to all of Bangladesh’s development partners, he said that the multilateral lender would reallocate around an additional US$ one billion from its current programs in consultation with the government, in addition to the new pledges.
Seck stated that after the money from the ongoing projects is repurposed, the additional lending would bring the World Bank’s total amount of grants and soft loans to Bangladesh for this fiscal year to almost US$ 3 billion.
The conclusion of the reforms, according to the national head of the World Bank, would be “critically important” for Bangladesh and its youth, particularly the two million individuals who enter the labor force annually.
Chief Adviser Prof. Yunus informed the World Bank country head during the meeting that the bank had to be flexible in order to finance Bangladesh’s reforms and assist in resuming a new journey following 15 years of “extreme misgovernance.”
“From these ashes, we must construct new buildings. We must give it our all and keep the aspirations of the kids front and center,” he declared.
“I’ll recommend and assist us. Join our team,” the Chief Advisor urged.
Professor Yunus requested technical assistance from the World Bank to help retrieve billions of dollars that had been embezzled from Bangladesh by dishonest people during Sheikh Hasina’s 15-year dictatorship.
He said, “You have the technology to recover stolen assets,” and added that Bangladesh will require the bank’s knowledge to create “a zero-corruption Bangladesh.”
The country head of the World Bank consented to assist Bangladesh in returning the pilfered funds. “We are pleased to assist you,” Seck remarked.
According to him, the international lender would also like to support Bangladesh’s financial sector reforms, digitalization of tax collection, data integrity, and transparency.
According to Prof. Yunus, Bangladesh cannot afford to miss this once-in-a-lifetime chance to improve its institutions and carry out significant changes.
“Once we lose it, it will never come back,” he stated.
Condolences were expressed by Seck for the martyrs of the student-led rebellion in July and August.
The WB national director expressed his admiration for the murals and graffiti that young people in Dhaka had created on the walls. “In 30 years of my career, I’ve never seen it anywhere,” he stated.
“They need to be empowered,” Seck declared.
