The
World Bank is committed to increasing lending to Bangladesh in this fiscal year
to help the reform agenda of the Interim Government, its Country Director
Abdoulaye Seck said on Tuesday.
Seck
informed that the World Bank can mobilise about $2 billion new financing in
this fiscal year to support critical reforms, flood response, better air
quality and health.
Seck
spoke about the new assistance when he met Chief Adviser Professor Muhammad
Yunus at the State Guest House Jamuna in Dhaka.
"We would like to support you as fast as
possible and as much as possible," Seck said, adding that the bank would
support the critical financial needs of the country.
He
said that in addition to the new commitments, the multilateral lender would repurpose
about an extra one billion dollars from its existing programmes in consultation
with the government in response to the calls for support by the Chief Adviser
to all development partners of Bangladesh.
Seck
said the extra lending would raise the amount of soft loans and grants the
World Bank would be giving to Bangladesh this fiscal year to about 3 billion
dollars once the funds from the existing projects are repurposed.
The
World Bank country chief said the completion of the reforms would be "critically
important" for Bangladesh and its young people, including the two million
people who are joining the job market every year.
The
Chief Adviser has told the World Bank country head that the bank must have
flexibility to fund Bangladesh's reforms and help restart a new journey after
15 years of "extreme misgovernance."
"Out
of these ashes, we have to build new structures. We need a big push, and we
have to focus on the dreams of the students," he said.
“I
will suggest, help us. Be a part of our team,” said the Chief Adviser.
Professor
Yunus asked the World Bank to lend its technical support to recover billions of
dollars of stolen assets siphoned off from Bangladesh by corrupt individuals
during Sheikh Hasina's 15-year-long dictatorship.
"You
have the tech to bring back stolen assets," Professor Yunus said, adding
Bangladesh would also need the bank's expertise to build "a zero-corruption
Bangladesh".
The
World Bank country chief has agreed to help Bangladesh bring back the stolen
money. "We are happy to help you," Seck said.
He
said the bank would also like to help Bangladesh with data transparency, data
integrity, digitalisation of tax collection, and financial sector reforms.
Professor
Yunus said Bangladesh can't afford to lose this once in a lifetime opportunity
to fix its institutions and undertake major reforms.
"Once
we lose it, it will never come back," he said.
Seck
offered condolences for the martyrs of the July-August student-led uprising.
He said he was impressed by the graffiti and
murals painted by young people on Dhaka's walls. "In 30 years of my
career, I've never seen it anywhere," he said.
"We need to empower them," Seck
said.