July 14, 2019 | Issue 225


Climate Adaptation: Bangladesh the best teacher, Says former UN secretary general

Terming Bangladesh the “best teacher” to learn from about adaptation, former UN secretary-general Ban Ki-moon said the achievement of the people and the government of Bangladesh, under the able leadership of Honourable Prime Minister (HPM) Sheikh Hasina, in the practice of adaptation was nothing short of miraculous. “Let’s all be inspired by the examples the Bangladesh government and its people have shown in addressing climate change,” he said thanking the Bangladesh leadership for adapting to climate change wisely and effectively. The former UN chief was addressing the inaugural session of the Dhaka Meeting of the Global Commission on Adaptation (GCA) at Hotel InterContinental Dhaka. Highly appreciating Bangladesh’s efforts, Ban Ki-moon said they are in Dhaka to learn from Bangladesh’s experiences and vision and send the message out across the world.

Bangladesh role model of economic turn-around, says World Bank CEO

Praising Bangladesh’s success in various sectors since the Liberation War, World Bank Chief Executive Officer (CEO) Cristalina Gorgiova on Wednesday said Bangladesh has set an example that development is the best way to achieve the financial capability of the turning-around. She came up with the remark while speaking at the inaugural ceremony of the two-day Dhaka Meeting of the Global Commission on Adaptation in a hotel in the capital. “I am astonished at the economic progress of her (Bangladesh) that she has been achieving since the independence,” She added. The World Cup CEO also highly praised Bangladesh for giving shelter to the forcibly displaced Rohingyas from Myanmar and taking preventive measures to fight climate change associated risks.

HPM Sheikh Hasina places five proposals for a peaceful at WEF discussion

HPM Sheikh Hasina placed a five-point proposal, including creation of an environment of peace and fair competition by all countries staying away from rivalries, to make any Indo-Pacific initiative a success. “Over a five-decade of my journey in politics tells me that any initiative in Indo-Pacific should include creation of an environment of peace-harmony-stability of all countries; focusing on entire aspects of sustainable development; engaging countries based on mutual trust and mutual respect for mutual benefit; focusing on wealth creation for all, development must be inclusive; and creating fair competition, not rivalries,” she said. Hasina was addressing a panel discussion during the “Annual Meeting of the New Champions 2019” of the World Economic Forum (WEF) at Dalian International Conference Centre in Dalian city.

HPM Sheikh Hasina’s China visit takes Dhaka-Beijing ties to new heights

During her recent visit to China, HPM Sheikh Hasina has seen as many as nine instruments get signed between the countries for further strengthening cooperation on power, water resources, culture and tourism sectors as well as providing 2,500 metric tonnes of rice for the displaced Rohingyas. At a meeting with Honourable President of China, Xi Jinping, both leaders agreed that there should be a quick solution to Rohingya crisis so that the displaced people can go back to their homeland soon. Talking about trade and investment issue, the Prime Minister said Chinese companies should invest in Bangladesh with a buyback facility to ease the big trade imbalance against Bangladesh.

HPM Sheikh Hasina seeks global help to fast-track Rohingya repatriation

HPM Sheikh Hasina has implored the international community to step up efforts to expedite the repatriation of the beleaguered Rohingya refugees in Bangladesh. She spoke in the inaugural session of the Dhaka Meeting of the Global Commission on Adaptation at a city hotel on Wednesday. Honourbale dignitaries including Marshall Island President Dr Hilda Heine, the current chair of Global Commission on Adaptation (GCA), and former UN Secretary General Ban Ki-moon; and World Bank CEO Kristalina Georgieva also attended the inaugural event of the meeting. “You all know, we have given shelter to 1.1 million evicted Rohingyas from Myanmar in our land in Cox’s Bazar. It is in an extremely vulnerable location. Their presence makes it more vulnerable. It is the responsibility of the global community to do more to ensure their quick return to Myanmar as well as look after them while they remain in Bangladesh,” the Bangladesh Premier said.

Bangladesh annual inflation remains within target

The government has been able to keep inflation within the limit it had set a year back for the just-concluded fiscal year, largely on the back of higher rice production. Inflation stood at 5.48% in fiscal 2018-19, comfortably below the target of 5.6% for the fiscal year. Inflation has been on a downward trajectory since fiscal 2013-14. Starting with 7.355, it fell to 5.44% in fiscal 2016-17 but slightly increased to 5.78% the following year. Satisfactory domestic production, favourable environment, low budget deficit and prudent monetary policy coupled with low fuel and commodity prices in the international markets contributed to the slide in overall inflation, according to government documents.

APG lauds Bangladesh for anti-money laundering initiatives

The Asia Pacific Group on money laundering (APG) has lauded Bangladesh for its significant progress against most of the ‘action items’ of money laundering. Out of 99 action items, Bangladesh has made significant progress against most of those including the amendment and enactment of legal instruments, establishment of AML (anti-money laundering) and asset management wings in different law enforcements agencies, establishment of special courts for money laundering and terrorist financing cases. APG , this week, expressed their satisfaction when its delegation, headed by Director of Mutual Evaluation David Shannon, met the National Coordination Committee on prevention of Money Laundering and Terrorist Financing (NCC) as part of Strategic Implementation Plan (SIP) Mission at Finance Ministry in the city.

Padma Bridge on fast-track

The country’s biggest infrastructure project – Padma Bridge – believed to be the future lifeline of the country’s development – is taking shape rapidly. According to media reports, the piling for the Padma Multipurpose Bridge is expected to be completed within a couple of months. Of the total 294 piles, work of almost 285 has been done. Besides, of 42 pillars, 29 are ready while the rest are expected to be ready within a stipulated time. With these developments, 14 of 41 spans of the bridge have so far been established. More 10 spans have already arrived from China and the rest will come soon. The project, which is expected to benefit people of 21 southwestern districts and enhance the country’s GDP by 1.2% ,was an electoral pledge of the Awami League government in 2008.

Central bank’s financial inclusion programme gets popular

People’s engagement in the central bank’s financial inclusion programme have enhanced as some 19,217,047 accounts have opened as of March 31 this year while some Tk2000 crore deposited. The financial activities are being conducted though these accounts and people are finding themselves in the economic dynamism. The use of the account has helped underprivileged people engage in various economic activities and change their lives. The marginal and landless farmers, small shop owners, hawkers and people affected by river erosion now take loans under a Tk 200-crore refinance scheme of the central bank by using the accounts for an interest rate of 9.5%.

FY19 exports rise by 10.55%, hit $40.53b

The country's export earnings reached an all-time high of US$ 40.53 billion in the just concluded fiscal year (FY), 2018-19, registering a 10.55% growth over that of the previous fiscal, according to official data. The export earnings in FY 19 also surpassed the target, set for the fiscal, by 3.94% , according to the Export Promotion Bureau (EPB) data. The ready-made garment (RMG) sector contributed more than 84 per cent or $34.13 billion to the total export income in FY 19. In last fiscal, the RMG exports grew by 11.49% from $ 30.61 billion of FY 18. The sector's earnings also exceeded the respective target in FY 19 by 4.42%.

Project launched to improve livelihoods of 4m poor people in Dhaka

The United Nations Development Programme’s (UNDP) in collaboration with the government of Bangladesh has launched a six-year project for improving the living standard of the capital’s 4 million poverty-stricken people. The project titled ‘Livelihoods Improvement of Urban Poor Communities Project (LIUPCP)’ was launched at Dhaka South City Corporation’s Mayor Mohammad Hanif Auditorium . The new project’s (LIUPCP’s) objective is to achieve long-term sustainable growth by eradicating urban poverty and achieve Sustainable Development Goals by 2030. With the help of this new project, he is hopeful that the urban poor will be empowered and as a result they would be able to make their own decisions in poverty reduction policies and activities.

23, Bangabandhu Avenue, Dhaka-1000. Bangladesh.

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