Warns factory accidents could moderate pace of RMG export growth The World Bank on Thursday stuck to its projection that the country’s GDP growth would be 5.8 per cent in the outgoing fiscal year despite the Bangladesh Bureau of Statistics’ estimate of 6.03 per cent and the finance minister’s hope of 6.3-6.8 per cent growth. ... Read more
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WB submits probe report on Padma bridge scam
Finance minister AMA Muhith received the final investigation report of the World Bank’s (WB) external experts panel on the Padma Multipurpose Bridge (PMB) Project scam. In the report, the WB panel noted that they found a criminal conspiracy that includes former communication minister Syed Abul Hossain as the most
WB gives $34.5m for digital public procurement project
International Development Association, the soft loan window of the World Bank, will provide Bangladesh with $34.5 million more funds for boosting electronic public procurement in the country. The fund will be used to scale up the electronic procurement (e-GP) and online procurement performance monitoring in key public agencies under the ongoing
WB launches Bangladesh enterprise survey
World Bank has launched the Enterprise Survey in Bangladesh to assess the business environment and investment climate barriers that limit economic growth. The survey is part of a global project in South Asia and would include interviews with over 1,550 manufacturing and services companies.
WB lines up $500m budget aid for Bangladesh
The World Bank (WB) is going to provide USD 500 million budgetary support to Bangladesh for the next fiscal year, sources at the Economic Relations Division (ERD) told The Independent on Thursday. The government has to utilise the money in three
Bangladesh not allowed to join global programme
The International Labour Organisation (ILO) and the World Bank (WB) have refused to let Bangladesh join a textile industry monitoring programme until the country overhauls its labour laws and conditions for unions improve, reports The Washington Post quoting a top ILO official. The strict stance by the ILO and World Bank, which jointly run the ... Read more
ILO, WB demand labour law changes in Bangladesh
The International Labour Organisation and World Bank have refused to let Bangladesh join a textile industry monitoring programme until the country overhauls its labour laws and conditions for unions improve, according to a top ILO official. The strict stance by the ILO and World Bank, which
World Bank asks govt to restructure plans
The World Bank (WB) has asked the government to restructure the plans and review the parameters, including financing, performance contracts and timelines, of 13 problematic projects. In particular, the WB has asked the government to revise the plans and review the financing, performance contracts and timelines for completion of subprojects, and discuss with the Bank ... Read more
Govt to start talks with WB for 2nd Padma bridge funding
The government will start negotiation with the World Bank today for taking loans for 15 development projects including construction of the second Padma bridge at Paturia. A negotiation meeting on the funding of prospective projects between the World Bank Dhaka office and Economic Relations Division will be held today at the
WB economist terms diverting Padma credit line impossible
There is no scope for the World Bank to divert the $1.2 billion Padma Bridge credit line to other development projects in Bangladesh, a WB official told New Age on Wednesday. But the government is still lobbying the multilateral lender to switch the $1.2 billion funds to other development initiatives, said Economic Relations
52,000 diploma students receive stipend
Around 52,000 diploma students from the 93 polytechnics institutions in the country have received stipends under the Skills and Training Enhancement Project financed by the World Bank. Nearly nine per cent of the stipend-recipient students are female. Out of the 93 polytechnics, 43 are public and 50 are private institutions, according to a World Bank ... Read more
WB to appoint external panel
Assessing Padma Graft Probe WB to appoint external panel 2 missions due this month The World Bank will appoint an external panel to assess the investigation carried out by the Anti-Corruption Commission into the corruption allegation in the Padma bridge project. Two WB missions are likely to arrive in Dhaka this month for the purpose, ... Read more
Bangladesh on firm footing in global remittance: WB
Bangladesh has emerged as the eight largest remittance earner, riding on the back of migration in flocks to the Middle East, according to a global survey by the World Bank. Migrant deployments from Bangladesh grew strongly this year, the global lender said in its report after conducting the survey last week
WB to provide $29mn for creating jobs in EPZs
The World Bank will provide US$ 29 million for creating jobs in the country’s Export Processing Zones (EPZs) for 11,000 poor women of Monga-prone areas. The government on Sunday signed a US$29 million financing agreement with the World Bank for the Northern Areas Reduction of Poverty Initiative (NARI) project, said a World Bank
Remittance flow to Bangladesh, Asia might be hit: WB
The indigenisation programmes being considered or implemented in the countries under Gulf Cooperation Council including Saudi Arabia have raised concerns of adverse implications for future remittances to migrant-sending countries including Bangladesh, said a World Bank report released on Thursday. ‘While the indigenisation may not affect remittances in the near-term, they highlight the
WB approves $172m for solar panels
The World Bank approved $172 million on Tuesday to support the ongoing rural electrification and renewable energy development (RERED) project to install an additional 630,000 solar home systems and other renewable energy mini-grid schemes in the country. The global lender is providing the credit to the RERED project, following the project’s success
Padma Bridge in a quagmire
WB freezes on short-listed questionable companies; govt seeks to know the names, move on without those The construction of Padma Bridge will face a long delay if the World Bank does not accept the government’s proposal to start the work soon without involving the firms accused of corruption. The proposal was made when WB Vice-President ... Read more
WB’s green light to Padma Bridge
Project to gather pace finally The World Bank has finally given the go ahead for the Padma bridge construction tender process with five pre-qualified firms, communications ministry officials said. The government sent documents of the five pre-qualified firms for the bridge construction job to the World Bank headquarters in Washington in January. The lead financier ... Read more
WB, IMF stop $500m loan
The World Bank and the International Monetary Fund have decided not to give the government over $500 million of budget support that they had planned to provide this financial year because of concerns over governance issues, including anti-corruption and telecom licensing, the World Bank has told New Age These two concessionary loans or credits, given ... Read more
WB okays $1.2b for Padma bridge
The World Bank has approved $1.2 billion concessional credit for the Padma Multipurpose Bridge Project. The much-expected approval was given at a board meeting of the bank, held Thursday at its headquarters in Washington DC, says a WB press release. The project, with an estimated cost of $2.9 billion, is expected to unlock the economic