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‘Trillion-dollar budget for Bangladesh in 2034’

  • Published at 10:05 pm July 25th, 2019
Planning Minister AHM Mustafa Kamal
File photo of Finance Minister AHM Mustafa Kamal Mahmud Hossain Opu/Dhaka Tribune

'We are now 32nd largest economy in the world'

Finance Minister AHM Mustafa Kamal on Thursday said he dreamt of placing a trillion-dollar budget in 2034, as Bangladesh's economy is steadily growing towards achieving the middle-income status by 2024.

"I hope to place a trillion-dollar budget in 2034. There is no limit to a dream. We are now 32nd largest economy in the world, and our target is to graduate to the 24th place by the next five years,” the finance minister said.

“The country will definitely achieve the target once the mega projects are finished. The government is moving on the right track under the efficient leadership of Prime Minister Sheikh Hasina,” he further added while addressing an award ceremony for the best development projects at Bangabandhu International Conference Centre in Dhaka. 

The event was organized by the Asian Development Bank (ADB).

“Our target is to get maximum benefit out of limited resources, as we want to be a self-reliant economy,” Mustafa Kamal said. 

Lauding the ADB's initiative to award the best development projects in Bangladesh, the finance minister said: “Acknowledging good work inspires others. We usually do not do this; ADB has set an example with this initiative.”

The best project award was materialized through a competition to select the best performing projects in different aspects, such as gender, resettlement, environment, financial management, contract awards and disbursements, and innovation and new technologies. Some 22 projects, out of a total 54 projects currently under implementation, was entered in the competition.

This year’s award went to five projects: SASEC Road Connectivity Project, Power System Efficiency Enhancement and Improvement Project, Second Small- and Medium-Sized Enterprise Development Project, Secondary Education Sector Investment Program, and Third Urban Governance and Infrastructure Improvement Project, according to a ADB statement.

Project directors and officials from Bhutan, India, Indonesia, Nepal and Sri Lanka took part in a series of discussions, including “Delivering Projects Faster” and “Delivering Innovative Projects,” during the two-day Good Project Implementation Forum organized in Bangladesh, aimed at promoting mutual learning among the countries in the region.

Country Director Manmohan Parkash said ADB would combine and catalyze finance, knowledge and partnerships, focusing on practical value that fits local conditions, and could be replicated across the region and beyond.

Economic Relations Division Secretary Monowar Ahmed spoke at the ceremony, among others.

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