Staff Reporter :
The World Bank (WB) has started preparing the draft Country Partnership Framework (CPF) for Bangladesh focusing on key areas of its engagement in the country for the next five years (2016-20).
“Formulation of the draft CPF is under process. It will support the country’s own development objectives,” Dr Zahid Hussain, lead economist, the WB’s Dhaka office, told The New Nation on Friday.
He said, The World Bank Group has set five priority areas of engagement where it can support the Bangladesh Government. These areas are energy, inland connectivity, trade logistic, urbanization and delta management.
“It will go for a closer engagement with Bangladesh Government for reaching its targets in these priority areas to support its Seventh-Five Year Plan. Furthermore, it will be financing energy efficiency and climate change investments in the country as well as investments in infrastructure, sanitation and capacity building of public enterprises,” he said.
Apart from this, Dr Zahid further noted, the multilateral development bank is keen to work closely with the Bangladesh Government
to support its efforts for regional connectivity. “Bangladesh is located strategically between South and South-East Asia. It gives Bangladesh a huge impetus to invest in regional connectivity. Once it can develop a smooth transport link (both river and land routes) with its neighbours, it can make billions from regional trade that will pass through its territory,” he noted.
He further said that now its trading with other regional countries is mostly routed but though sea, better connectivity in land routes may reduce the distance and time, and also cost of trade.
“A strategy, in this regard, will put in the new CPF for Bangladesh outlining the World Bank’s assistance plan for developing a better connectivity with its neighbours,” he said.
When asked, the WB’s lead economist said, we have already completed a widespread consultation process that included high government officials, civil society organizations, academia and representatives from the private sector to develop the draft CPF. The WB is expected to endorse the CPF for Bangladesh in January next.
The World Bank (WB) has started preparing the draft Country Partnership Framework (CPF) for Bangladesh focusing on key areas of its engagement in the country for the next five years (2016-20).
“Formulation of the draft CPF is under process. It will support the country’s own development objectives,” Dr Zahid Hussain, lead economist, the WB’s Dhaka office, told The New Nation on Friday.
He said, The World Bank Group has set five priority areas of engagement where it can support the Bangladesh Government. These areas are energy, inland connectivity, trade logistic, urbanization and delta management.
“It will go for a closer engagement with Bangladesh Government for reaching its targets in these priority areas to support its Seventh-Five Year Plan. Furthermore, it will be financing energy efficiency and climate change investments in the country as well as investments in infrastructure, sanitation and capacity building of public enterprises,” he said.
Apart from this, Dr Zahid further noted, the multilateral development bank is keen to work closely with the Bangladesh Government
to support its efforts for regional connectivity. “Bangladesh is located strategically between South and South-East Asia. It gives Bangladesh a huge impetus to invest in regional connectivity. Once it can develop a smooth transport link (both river and land routes) with its neighbours, it can make billions from regional trade that will pass through its territory,” he noted.
He further said that now its trading with other regional countries is mostly routed but though sea, better connectivity in land routes may reduce the distance and time, and also cost of trade.
“A strategy, in this regard, will put in the new CPF for Bangladesh outlining the World Bank’s assistance plan for developing a better connectivity with its neighbours,” he said.
When asked, the WB’s lead economist said, we have already completed a widespread consultation process that included high government officials, civil society organizations, academia and representatives from the private sector to develop the draft CPF. The WB is expected to endorse the CPF for Bangladesh in January next.
