WB assures Dhaka of continued support

Appreciating Dhaka's institutional reforms, the World Bank (WB) assured the government of continuing support to its efforts to accelerate economic growth and poverty reduction in the country.
The word of assistance came in a meeting between Graeme Wheeler, the WB's managing director, and Finance Adviser Mirza Azizul Islam in Washington, D.C. Friday, said a government press release.
The WB chief executive also hoped that the ongoing reforms would "contribute significantly to establishing a framework for good governance in Bangladesh".
Wheeler encouraged the government to 'robustly' pursue the ongoing reforms so that the bank's assistance could be scaled up and effectively used for the benefit of the poor.
He praised the government's bid to maintain macroeconomic stability and pursue fiscal discipline.
Mirza Aziz, while highlighting the fight against corruption and the separation of the judiciary from the executive, thanked the WB top official for their continued support and expressed the government's commitment to pursuing institutional and policy reforms.
He cited development in tax reforms and the creation of Better Business Forum as a mark of brightening investment climate in Bangladesh.
"There has been an improvement in the absorptive capacity of aid resources in Bangladesh following various actions taken by the interim government under the leadership of the chief adviser, which justifies more support from the World Bank," he told Wheeler.
The adviser also reiterated the need for continued assistance from the donor agency on sectors that have direct bearings on poverty-reduction efforts along with focus on addressing the challenges emanating from climate change.
On the sidelines of the World Bank-International Monetary Fund meeting, the finance adviser had a detailed meeting with Bangladesh Country Team in the WB.
Mirza Aziz appreciated the Bank's commitment to providing scaled-up budget support following the recent floods in Bangladesh.
He also reaffirmed the government's intention to transfer power to an elected government by the end of 2008, highlighted the major policy and institutional reforms such as the reconstitution of the Anti-Corruption Commission, the Election Commission and the Public Service Commission.
World Bank Alternate Executive Director Zakir Ahmed Khan, ERD Secretary M Aminul Islam Bhuiyan, Finance Secretary Dr Mohammad Tareque, Bangladesh Ambassador in the US Humayun Kabir and Economic Minister in Washington D.C. Mahfuzul Haque were present at the meeting.