US, China signal support for Bangladesh's economy, energy security
Beijing signals interest in expanding power and energy investment, while Washington offers cooperation on debt management.
The United States and China have signalled support for Bangladesh's economic recovery and energy security, with Beijing expressing interest in expanding investment in the country's power and energy sectors and Washington offering cooperation on debt management.
The assurances came during separate meetings between Bangladesh's delegation and officials from the US Treasury Department and the Export-Import Bank of China (China Exim Bank) on the sidelines of the IMF-World Bank annual meetings in Bangkok, Thailand, officials familiar with the discussions told The Business Standard today (14 October).
A member of the Bangladesh delegation said China Exim Bank had expressed interest in increasing investment in Bangladesh's energy and power sectors.
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The bank also informed the delegation that its chairman would visit Dhaka next week, raising the prospect of further engagement on investment.
The US Treasury Department, meanwhile, assured Bangladesh of cooperation in several areas, including debt management and bilateral relations, officials said.
Washington's support is seen as particularly important to Bangladesh's efforts to secure financing from the International Monetary Fund (IMF), given the United States' veto power over the institution's decisions.
After meeting US Treasury officials, Finance Minister Amir Khosru Mahmud Chowdhury said Bangladesh had received less support from the United States than it had expected in the past, but hoped closer bilateral ties would lead to greater assistance.
The discussions covered debt management, bilateral relations and other issues, he said, adding that the improvement in relations had raised the government's expectations of further US support.
Pointing to Bangladesh's purchases of aircraft from the US and imports of goods including soybeans, the finance minister said the country should receive greater American support in advancing its development and economic interests.
Government expects support in coming months
Prime Minister's Economic Adviser Dr Rashed Al Mahmud Titumir said the IMF, World Bank and US Treasury Department, among others, had acknowledged that the current government had inherited economic difficulties and high inflation.
The conflict in the Middle East had added to the pressure on the economy, he said.
They also said the current government was working sincerely to resolve the problems. As a result, the World Bank, IMF, US Treasury Department and other organisations have assured Bangladesh of their support.
According to Titumir, international financial institutions and US officials recognised the government's sincere efforts to address these challenges. As a result, the World Bank, IMF, US Treasury Department and other organisations had assured Bangladesh of their support, he said.
The government expects confirmation of the assistance within the next two to three months, he added.
