DHAKA, Jan 21, 2024 (BSS) - Finance Minister Abul Hassan Mahmood Ali has
emphasized the country's promising growth trajectory, the need for
substantial investments in key sectors through unconventional means,
including blended finance, private sector facilitation, policy support and
increased concessional climate finance.

He made the emphasis today when the Vice-President and Chief Operating
Officer of New Development Bank (NDB) Vladimir Kazbekov held a meeting with
the Finance Minister at Economic Relations Division (ERD) in the capital
today.

In the face of the ongoing global financial crisis, Ali also expressed the
hope that NDB would innovate new financial instruments to support both public
and private sectors' development.

The proposal to explore multi-currency operations in Bangladesh was also
discussed, said an ERD press release here.

The release said a seven-member high-level delegation from the NDB, headed by
Vladimir Kazbekov, is currently on a visit to Bangladesh from January 21 to
23, 2024.

This visit aims to strengthen ties and explore potential collaborations to
support Bangladesh's sustainable development initiatives.

During the meeting, the Finance Minister extended a warm welcome to the NDB
vice-president, expressing gratitude for the bank's active involvement in
Bangladesh's critical projects.

These projects specifically involve the establishment of a new water supply
network in select areas of the city and the replacement of the aging gas
network in Dhaka and Narayanganj districts.
 
Discussions primarily focused on advancing infrastructural development across
diverse and productive sectors, including transport, clean energy, energy
efficiency, water and sanitation and tourism.

In response, Vladimir Kazbekov congratulated the Finance Minister on his
recent appointment and commended the new government under the leadership of
Prime Minister Sheikh Hasina. He assured a deepening of economic relations
with Bangladesh and pledged increased collaborations to support sustainable
development initiatives.

Bangladesh holds the distinction of being the first country to join the New
Development Bank after its original members in September 2021. This
membership has paved the way for a new partnership, aligning with
Bangladesh's development vision.

The country successfully completed its tenure as the initial Director for a
constituency formed in collaboration with the United Arab Emirates (UAE) and
Egypt, spanning from September 2021 to June 2023. Bangladesh formulated "The
New Development Bank Act, 2023" in November, 2023 to ratify NDB's Agreement.

The ongoing visit by the NDB delegation involves discussions with high-level
government officials and dignitaries to explore potential financing
opportunities, contributing to Bangladesh's journey towards a higher
development trajectory.