• Sunday, May 22, 2022
  • Last Update : 04:24 pm

An opportunity for the future

  • Published at 12:03 am November 23rd, 2016
An opportunity for the future

Bangladesh will do well to utilise the International Finance Corporation’s pledge to invest $2.5 billion dollars in the country.

As the money will be provided over the course of the next three years, there is an opportunity here for long-term thinking -- that is what Bangladesh needs right now.

The most significant aspect of the contribution is that its primary purpose is to encourage players in other sectors of the economy. With RMG being the largest contributor to the Bangladeshi economy, the loan may be crucial in developing infrastructure, and spurring the growth of alternative sectors

The aim here is to focus not only on manufacturing, but also on infrastructure, power, logistics, and the financial sectors. This will allow for the kind of holistic approach that Bangladesh desperately needs.

It is crucial that the money is used in the right places and does not wind up in pockets of unscrupulous players. Furthermore, these funds should not go to waste on bad projects, or ones that are endlessly stalled.

It is important, though, that the World Bank’s lending arm respect Bangladesh’s autonomy in how to best use this investment. It is never a good sign when an outside party dictates the terms.

With this understanding, the IFC can be a great ally to Bangladesh in the coming years.

The World Bank recently said Bangladesh could very well become the next economic powerhouse of Asia. This is no pipe dream, but there is still some way to go.

We must seize this opportunity, and we must get to work.

50
Facebook 50
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail