World Bank reaffirms commitment to supporting Bangladesh's reform efforts
World Bank reaffirms commitment to supporting Bangladesh's reform efforts
World Bank Reaffirms Support for Bangladesh's Reform Initiatives
World Bank Vice President Martin Raiser on Tuesday reiterated the global lender's commitment to supporting Bangladesh's interim government in advancing its reform agenda.
During a meeting with Bangladesh's Chief Adviser, Professor Muhammad Yunus, at the State Guest House Jamuna in the capital, Raiser reaffirmed the World Bank’s support for key transparency, governance, and digitalization reforms, including tax administration.
"The World Bank is assisting Bangladesh with a range of urgent reforms aimed at improving transparency and governance, particularly in tax policy and administration, public procurement, and statistics," Raiser stated. He emphasized that these reforms are crucial for Bangladesh’s democratic transition, future governments, and inclusive economic growth.
According to Raiser, separating tax administration from tax policy would enhance transparency and governance within the revenue system. He also stressed that the authority to grant tax exemptions should rest solely with parliament.
Chief Adviser Prof. Yunus outlined his recent initiative to establish a consensus commission, designed to facilitate dialogue with political parties on implementing reforms recommended by six major commissions. "Once political parties reach an agreement, they will sign a July Charter, which will be implemented first by the interim government and later by an elected political government," he explained.
Raiser also highlighted the need to improve public procurement processes and ensure the independence of the Bangladesh Bureau of Statistics (BBS) to enhance data quality for effective policymaking.
Additionally, the discussion covered Bangladesh’s digitization efforts, particularly regarding the National Identification (NID) system. Raiser noted that the World Bank could assist Bangladesh in connecting with countries that have well-established digital identification infrastructure.
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