Contribution of local communities as well as the private sector is necessary along with government initiatives to make development sustainable in Bangladesh, experts agreed at a South-South Cooperation event in the capital yesterday.
Speaking at the event, a discussion titled “Alternative models of financing for development: Strengthening public, private and community partnerships,” HK Yong, senior fellow at the Institute of Strategic and International Studies in Malaysia, said in a developing country, a government alone cannot fulfil all responsibilities of development with its own resources if aiming to attain sustainable development goal.
Mentioning different large infrastructure development projects in the world, Yong said taking initiatives in partnership basis could make the hurdle easier to overcome.
Rubana Huq, managing director of Mohammadi Group who was also in attendance, cited the example of low-cost housing scheme for 700 RMG workers in Gazipur and said if the financial institutions came forward to invest in such projects, a large number of slum-dwellers would be able to leave their current inhuman and underdeveloped living condition behind.
The business community can also come forward to invest money to improve the living status of their workers by setting up schools and other facilities, which ultimately improves people’s sustainability, she further said.
Ruksana Pervin Sweety, president of Community Housing Development Fund in Sirajganj, small community initiatives needed technical support from larger development communities to run their projects successfully.
Dr Arastoo Khan, member secretary of Planning Commission Bangladesh, said the domestic resource mobilisation was very important to attain sustainable development in the country.
