Dhaka seeks more WB help to face challenges

World Bank President Robert B Zoellick, right, talks to Finance Adviser Mirza Azizul Islam on various issues at the Planning Commission yesterday. Photo: STAR

Bangladesh has sought additional assistance from the World Bank (WB) for facing the economic challenges caused by global increase of prices of oil and food items and recent countrywide flood.
"We expect enhanced budgetary support [from the World Bank] through increased transitional credit and project financing to meet the current challenges," Finance and Planning Adviser Mirza Azizul Islam told reporters last night after meeting with WB President Robert B Zoellick.
The WB president arrived in Dhaka yesterday on a two-day visit to Bangladesh.
"We placed our priorities before the World Bank president and urged him for faster implementation of support in the power sector the World Bank pledged earlier," Aziz said.
The WB president also gave assurance in this regard but stressed the need for necessary policy reforms in the power sector, he added.
Zoellick also hailed government initiatives to make institutions like the Election Commission, Public Service Commission and the Anti-Corruption Commission effective, said the finance adviser.
Asked to comment on the ongoing protest against Zoellick's visit, Aziz said 50 percent of the country's development budget comes from the donors. "What are the alternatives to their assistance?" he said, also pointing out that the protesters are not specifying the conditions they are objecting to.
Zoellick is scheduled to meet Chief Adviser Fakhruddin Ahmed today. The meeting may touch on the caretaker government's move to fight corruption and restore good governance.
He will also meet Nobel laureate Prof Muhammad Yunus and exchange views with him on various socio-economic issues.
WB Vice President for South Asia Praful C Patel, WB Alternative Executive Director in Washington and former finance secretary Zakir Ahmed Khan and WB Director in Washington Devendra Kumar will accompany Zoellick during the meetings.