Honorable Chair,
President of the New Development Bank,
Esteemed Governors, Distinguished Delegates,
Excellencies, Ladies and Gentlemen,
A very good morning to you all.
Allow me to begin by expressing my heartfelt appreciation to the Federal Government of Brazil (Governo Federal) and the New Development Bank for graciously hosting this pivotal gathering in the vibrant city of Rio de Janeiro—a city renowned for its rich culture and history. It is a distinct honor to join this esteemed assembly, united in our commitment to forging pathways toward a sustainable and inclusive future.
Mr. Chairman,
I extend my deepest gratitude to all present for welcoming Bangladesh as a valued member of this distinguished family. Our membership opens new avenues for partnership, knowledge exchange, and innovation as we strive to transform our economy into a knowledge-driven, developed nation.
Esteemed Governors,
This year’s theme, “Driving Development: Fostering Innovation, Cooperation, and Impact through a Multilateral Development Bank for the Global South,” resonates profoundly with Bangladesh’s aspirations. As we advance technologically, we also confront the pressing challenges of climate change and geopolitical uncertainty. In this complex global landscape, we gather with the hope of discovering innovative solutions to create a prosperous and inclusive world. As a proud member of the NDB family, Bangladesh is steadfastly committed to the principles of partnership, innovation, and sustainable development that the Bank represents.
Distinguished Management of NDB,
I wish to thank the NDB for its commitment to providing one billion USD annually. We have already submitted proposals for five projects totaling 1181 million USD in a short timeframe. We have already completed one negotiation and another is under process. This support is a testament to the strong leadership and dedication of the NDB President and management. We are confident that our unwavering commitment and joint efforts will further strengthen and expand our relationship in the days ahead.
Excellencies,
I am pleased to inform you that the recently formed Interim Government, under the prudent leadership of Nobel Laureate and Honorable Chief Advisor Dr. Muhammad Yunus, has pledged a strong commitment to building a Bangladesh free from discrimination—anchored in good governance, equality, transparency, and justice. The new government is taking steps to continue previous commitments and has demonstrated keen interest in collaborating with multilateral development partners like the NDB for national development.
Over the past two decades, Bangladesh has achieved remarkable progress. Our economy has maintained an average growth rate of 6%, and we are on track to graduate from Least Developed Country status by 2026. These achievements reflect our resilience, prudent policymaking, and the unwavering spirit of our people. Guided by our government, we are building a “Bangladesh without Discrimination,” rooted in good governance, transparency, and justice. We are deeply grateful for the steadfast support of our development partners throughout this journey.
Distinguished Delegates,
We convene at a time when the world is grappling with the aftermath of the COVID-19 pandemic, ongoing economic crises, and the escalating impacts of climate change. For countries like Bangladesh, these challenges are particularly acute. Despite our minimal contribution to global emissions, we remain among the most vulnerable to climate-related disasters. Volatility in food, fuel, and financial markets has tested our resilience, threatening to reverse hard-won gains. Unprecedented crises have led to currency depreciation, soaring inflation, and rapid depletion of foreign reserves, disproportionately impacting the most vulnerable. A collective effort is imperative to navigate these turbulent times and avert a deeper crisis.
Distinguished Delegates,
The cost of financing is critical to prudent borrowing and avoiding debt traps. I urge the NDB Management to explore innovative, affordable, and competitive and innovative financing options aligned with our development objectives, ensuring mutual benefits for all stakeholders. We must act decisively and proactively in response to the rapidly changing global landscape.
Mr. Chairman,
Bangladesh, despite its negligible contribution to global climate change, suffers disproportionately from its consequences. Notably, over 40% of climate-related assistance has come as loans. We request the NDB’s support in blending global climate finance for green development. We also appreciate the NDB’s introduction of multicurrency options for project implementation in Bangladesh and seek your support in introducing local currency options as part of multi-currency operations.
Distinguished Management of NDB,
- We request the introduction of budget support and policy-based support, akin to those of the World Bank, ADB, and AIIB.
- Policy-based support and concessional financing are vital tools for addressing current economic challenges.
- NDB should consider concessional financing for climate change initiatives, leveraging advanced technologies to facilitate the transition from fossil fuels to renewable energy—without imposing additional financial burdens on member states.
- Prioritize public sector infrastructure, regional connectivity, and skill enhancement to meet the demands of the Fourth Industrial Revolution (4IR).
- Foster collaboration on domestic resource mobilization to strengthen our economies.
- We propose the development of a Country Strategy Paper aligned with our national plan, to improve predictability and help Bangladesh better prepare and prioritize its development projects.
Excellencies,
As a new global initiative, we hold high expectations for the NDB. I am confident that our collective efforts will enable us to overcome current challenges and usher in a new era of development. Bangladesh is fully committed to working closely with the NDB to build a prosperous and equitable world for future generations.
With these thoughts, I conclude my remarks. Thank you all for your attention and patience.