ADB
Graduation to the list of developing countries: Decisions must be based on reality
To qualify for graduation to the final list of developing countries, a nation must meet three essential criteria. Bangladesh has successfully met all of these conditions. After being under observation for several years, Bangladesh is set to officially graduate to the developing country category in 2026. This will be the most significant economic achievement for the country since its independence. No nation wants to remain a least developed country (LDC) indefinitely. Every country aspires to graduate to the developing nation category as quickly as possible. While LDCs receive certain benefits from developed nations, these privileges are often granted out of a sense of charity rather than respect. Thus, achieving developing country status is a matter of national pride.
Excessive foreign debt erodes financial independence
In the 1970s, an American development economist visited Bangladesh. At one point, he gave a speech to the faculty members of Dhaka University. The economics department’s professors were notably present at this event. During his address, the American economist presented his views on why Bangladesh’s economic development was not progressing to the desired level. The professors in attendance listened intently to his words. At that moment, a young economics professor from Dhaka University stood up and said to the American economist, "The reason we are unable to achieve the desired level of development is because you are intervening in our economy in various ways." After a brief pause, the American economist replied to the young professor, saying, "If 80 percent of the funds for your country's development activities come from us, whose economy is it? If you were able to finance your development from domestic sources, we would not need to offer any advice." Hearing this, the young professor remained silent and sat down.
Interim government can initiate reforms, elected government to execute
One hundred days is not a long time to evaluate the activities of a regular government. For this special type of government, we must be even more flexible. However, after taking office, an evaluation can be made of what responsibilities this government could have fulfilled and what it has actually done in those 100 days. Such an evaluation is needed to make the current government’s role more effective. This government has more opportunities to accomplish things compared to a regular government, because it does not have any political affiliations. If it wishes, it can take various initiatives for the public interest. Since this interim government has come to power through a popular uprising, expectations from it are high. They do not have to worry about elections. If they take the people's aspirations into account, they can accomplish significant work.
ISPR requests not to get misled by rumours over security of St. Martin’s
Inter Services Public Relation Directorate (ISPR) has urged all not to be misguided by rumours spreading through social media over the security of St. Martin’s island centering Myanmar's ongoing internal conflict near the island.
ADB allocates $121.55 million for solar power generation in Bangladesh
The Asian Development Bank (ADB) has signed a 121.55 million US dollar financing package with Dynamic Sun Energy Private Limited to build and operate a 100-megawatt (MW) grid-connected solar photovoltaic power plant in Pabna.
ADB operations reach $23.6b in 2023, achieves record climate finance
The Asian Development Bank (ADB) committed US$23.6 billion from its own resources in 2023, including US$9.8 billion for climate action, to help Asia and the Pacific progress on sustainable development.
ADB grants $71m to Bangladesh for Water Resources Management
The government on Saturday signed a US$71 million loan agreement titled "Loan 4440-BAN: Climate-Resilient Integrated Southwest Project for Water Resources Management" with the Asian Development Bank (ADB) for ensuring climate resilient water resources management.
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