Continue soft financing until global economy turns normal: PM to dev partners

Prime Minister Sheikh Hasina on Tuesday urged the development partners to continue their financing on lenient conditions until the global economy returns to normal situation.

"During this critical juncture [the global crisis], we're noticing with dismay that many development partners are enhancing their interest rates, which makes the development financing in case of most of the projects ineffective," she said while addressing a programme arranged at Hotel Intercontinental Dhaka, celebrating the 50 years of the partnership between Bangladesh and Asian Development Bank (ADB).

Sheikh Hasina stressed the need for coordination among the development partners to face more than one economic blows or impacts.

"It needs to continue financing on soft conditions until the global economy returns to its normal position. Financial institutions and developed countries will have to pay special attention to it. We want their attention," she said.

The PM said Bangladesh wants no kindness or charity but rather wants its due right. "Being a part of the global community, we're demanding our fair share," she added.

She said the global business partners are imposing unnecessary trade restrictions, which are hampering the overall supply chain further and thus pushing the countries like Bangladesh into an economic crisis.

In the context of the current global economic situation, the premier requested the ADB to go for soft and innovative financing approach as well as put strategic importance on skills development, development of health, ICT-based entrepreneurs, human resources and standard infrastructures and fighting climate changes.

However, she said, "We've noticed with satisfaction that ADB has always been beside Bangladesh with its innovative and technical assistance during our tough times."

Finance Minister AHM Mustafa Kamal and ADB President Masatsugu Asakawa spoke on the occasion. Secretary of Economic Relations Division (ERD) Sharifa Khan made the welcome remarks, while ADB's Country Director in Bangladesh Edimon Ginting delivered the concluding speech.