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Category Archives: WB- IMF-WTO

WB suggests more digitalization to accelerate growth Bangladesh can accelerate growth, create more jobs and deliver better public services by enhancing access to digital technologies, said a new World Bank report. According to the World Development Report 2016: Digital Dividends, launched here today, digital technologies could promote inclusion, efficiency and innovation. The report was launched in connection with the World Telecommunication and Information Society Day to ... Read More »

WB’s 2016 WDR `Digital Dividends’ to be launched on Monday The World Bank (WB) will release the World Development Report (WDR) 2016 tomorrow on digital technologies that have delivered digital dividends by boosting growth, expanding opportunities and improving services. WB officials said the official launch of the report titled: “World Development Report 2016: Digital Dividends” in Dhaka is part of a series of regional and country-level dissemination activities following ... Read More »

WB forecasts 6.8% GDP growth in FY 2016-’17 The World Bank has projected 6.8 percent GDP growth for Bangladesh in the next fiscal year (2016-’17).However, there is no specific forecast for the current fiscal of 2015-16, said lead economist of the World Bank Zahid Hussain. In its Bangladesh development update released on Saturday, the global lending agency said no economic indicator except export grew faster in the ... Read More »

WB to help Bangladesh to reach middle income country The World Bank Group on Wednesday endorsed a new Country Partnership Framework (CPF) to help Bangladesh achieve its vision of reaching middle-income country status by 2021 from the current lower-middle income status. The CPF for 2016 to 2020 will help the country reduce poverty and boost shared prosperity, according to a press release of World Bank. The CPF, discussed ... Read More »

ADB, 4 local banks sign trade finance programme deals The Asian Development Bank (ADB) and four local banks-The City Bank, Mutual Trust Bank, Pubali Bank, and Southeast Bank– on Thursday signed trade finance programme agreements involving $40 million. “Under these agreements, ADB and our Bangladesh bank partners will provide loans and guarantees to support exporting and importing companies in Bangladesh, including small- and medium-sized enterprises,” said Steven Beck, ... Read More »

WB signs agreement to finance Siddhirganj Power Project

The government has signed a $177 million additional financing agreement with the World Bank to complete the ongoing construction of a 335 megawatt combined cycle power plant at Siddhirganj, near Dhaka, reports The plant that will start commercial operation in 2016 will account for 6 percent of the total electricity delivered to the national grid, the World Bank says. ... Read More »

WTO members agree to extend drug patent exemption for LDCs    Least developed country (LDC) members of the World Trade Organization (WTO), including Bangladesh, will now be allowed to maintain maximum flexibility in their approach to patenting pharmaceutical products until at least 2033. The WTO’s Council for Trade-Related Aspects of Intellectual Property Rights (TRIPS) took the decision on Friday to extend the drug patent exemption for poorest members. Ambassador ... Read More »

WB to provide $100m to improve technical, vocational skills The World Bank (WB) approved additional US$100 million financing to scale up its support to strengthen technical and vocational education in Bangladesh. This financing will enable 200,000 poor students to complete vocational training and diploma courses, said a WB press release on Saturday. With this additional financing to the ongoing Skills and Training Enhancement Project (STEP), the WB’s total ... Read More »

Global, regional trade key to faster growth for BD: WB

International and regional trade is crucial for Bangladesh to create more and better jobs for the two million youths entering the country’s labour force every year, a World Bank study has said, reports The ‘Diagnostic Trade Integration Study’ launched by the global lending agency on Wednesday lays down a roadmap to strengthen Bangladesh’s trade competitiveness and develop policy to ... Read More »

IMF clears extra $258.3 m for Bangladesh

The International Monetary Fund’s executive board approved about $258.3 million in extra payments to Bangladesh on Wednesday after a review of the country’s support programme, reports  The disbursement takes total payments to the country under a three-year Extended Credit Facility (ECF) arrangement to about $904.2 million, the IMF said in a statement. The decision follows the fifth and sixth ... Read More »