Hasina seeks SDG funds from donors

Prime Minister Sheikh Hasina yesterday urged the developed countries to stand beside Bangladesh in its journey towards prosperity.

Ensuring the supply of finance is a big challenge to achieve the sustainable development goals (SDGs), she said on opening Bangladesh Development Forum 2018 at the Sonargaon hotel in Dhaka.

"For this, the developed countries will have to come forward with financial and technical assistance."

The premier said Bangladesh also needs global support in dealing with challenges posed by environmental and climate change, and the international community must give more attention to the impending problem.

"In our journey to prosperity, we consider private partnerships including international countries and organisations as our important development partners."

Hasina also urged the developed countries to be more courteous about a flexible world trade regime to help the developing countries like Bangladesh to achieve their overall development in poverty alleviation and employment generation.

Bangladesh Development Forum (BDF) is a high level meeting where the government and its development partners work to explore further partnerships to foster inclusive economic growth.

It brings together ministers, government policymakers, multilateral, regional and bilateral development institutions from the north and the south, think tanks, universities and civil society organisations to discuss how to foster partnerships to take the national and international agendas forward.

Finance Minister AMA Muhith, Director-General and CEO of OPEC Fund for International Development Suleiman Jasir Al-Herbish, World Bank Vice President for South Asia Annette Dixon and Vice President of Asian Development Bank Wencai Zhang spoke at the event. Deputy Director General of Japan's Foreign Affairs Ministry Minoru Masujima and Ambassador of the Delegation of European Union to Bangladesh Rensje Teerink also spoke.

Economic Relations Division's Secretary Kazi Shofiqul Azam gave the welcome address at the event.

Cabinet members, lawmakers, diplomats of different countries and representatives of international development partners also attended the inaugural function.

Terming Bangladesh a country with a lot of potential, Hasina said, "We have the confidence and resources to demonstrate ourselves as a dynamic economy before the world."

Bangladesh is ready to stand with the developing countries after coming out from the least developed country category and "a strategic preparation has been taken to face the impact", she said.

"Our all-out efforts for sustainable economic and social development have been continuing."

Hasina said Bangladesh has embarked on a five-year development plan designed on "Vision 2021" and United Nations SDGs, aimed at becoming a middle-income country by 2021 and developed one by 2041.

She recalled that Bangladesh was on the road of preparing its seventh five-year national development plan when the UN agenda for SDGs was in its initial stage.

As a result, Bangladesh was able to contribute in making the world development agenda, she said.

"The SDGs are very much supplementary to Bangladesh's national development priority and we are expecting to achieve the goals within the period of our eighth and ninth five-year plans."

She sought development partners' advice and opinion on Bangladesh's development plans.

"We need cooperation from development partners, civil society, intellectual and private sectors to implement the development goals and programmes."

Highlighting Bangladesh's economic progress over the last few years, she said the poverty rate was 56.7 percent in 1991 which now stands at 22.4 percent.

Poverty will come down to 14 percent by 2021, she said. In the last decade, she said, average GDP growth rate of Bangladesh was 6.26 percent, which has increased to 7.28 percent in the last fiscal year.

In the period, Bangladesh's export and remittance figures tripled whereas the foreign exchange reserve increased by almost nine times.

Hasina said Bangladesh was now the 44th largest economy in the world on the basis of GDP and its position on the basis of purchasing power is 32nd.

According to international financial analysts, Bangladesh will become the world's 28th and 23rd largest economy based on GDP and purchasing capacity by 2030 and 2050, she said.

Pointing out the digital advancement of Bangladesh over the years, the prime minister said over 13 million mobile SIMs are being used while 80 million people have access to the internet.

Digital centres have been established in each union. From there, people get 200 types of services. Per capita income is now $1,610, she said.

Hasina said Bangladesh could attract foreign direct investment equivalent to about $3 billion in the current fiscal year.

Electricity production capacity has risen to 16,350MW, bringing 83 percent of households under its coverage. Average life expectancy of people has increased to 72 years.

She said the government has now taken initiatives to establish 100 economic zones in different areas of the country for foreign direct investment.

The government is working for infrastructure development and for necessary reforms to create an investment-friendly environment for foreigners.

To serve the purpose, Bangladesh Investment Development Authority has been formed by merging the Board of Investment and the Privatisation Commission, she said.

Hasina hoped that the development forum would play an important role in determining collective action strategies and formulating necessary recommendations for building a poverty and hunger-free prosperous Bangladesh.