Bangladesh to Sign New Partnership Framework with World Bank: Finance Minister

Bangladesh is preparing to sign a new Country Partnership Framework (CPF) agreement with the World Bank, with a government delegation expected to hold discussions with the global lender within the next two to three weeks to finalise the terms.

“Although there are no major differences over fundamental policy issues, the final details will be determined through discussions under a joint action plan,” Finance and Planning Minister Amir Khosru Mahmud Chowdhury said on Friday.

He made the remarks while speaking to journalists on the sidelines of the annual meetings of the International Monetary Fund (IMF) and the World Bank Group in Bangkok.

Earlier in the day, the finance minister met representatives of Bank of America, Google, the IMF, Standard Chartered Bank and Moody’s at the Sirikit International Convention Centre. Discussions focused on Bangladesh’s overall economic situation, debt-related concerns, financial sector reforms and other key issues.

Highlighting the importance of the current year for Bangladesh, Khosru said international organisations had also recognised the significance of this period. Given the country's economic circumstances, the World Bank, IMF and other development partners, including the Asian Development Bank (ADB), were working closely with Bangladesh to support its economic progress and help it navigate global challenges, he added.

Reaffirming the government's commitment to fulfilling its election manifesto and implementing its planned programmes, the minister said the government was developing a comprehensive framework to guide the country's development over the next five years.

Asked about remarks made earlier in the day by the World Bank president and the IMF managing director during a plenary session, Khosru said cooperation and partnership remained the greatest strengths of low-income countries in tackling the ongoing global crisis.

He expressed hope that the heads of both institutions would continue to provide Bangladesh with strong support and encourage collaborative efforts to meet public expectations and achieve sustainable development.