Bangladesh Economy: News & Updates

[IamBengali]

Gazipur 250-bed global standard hospital

 

[Bilal9]

So Burma has got auto plant before BD?!!!!

Cars have been assembled (CKD units) in Bangladesh since Pakistan time (late 1960's) at Gandhara Industries Chittagong (GM joint venture making Vauxhall Viva among other models). After 1971 the industry was renamed Pragoti and assembled Mitsubishi products (mainly Pajero Sport and Lancer models for govt. use. Bangladesh was an imported vehicle market unlike India.

 

[Skies]

Bangladesh not ready for nuke plant | Says German ambassador

Staff Correspondent

German Ambassador to Bangladesh Albrecht Conze yesterday expressed his reservations on setting up nuclear power plants in Bangladesh, saying that the country is too populated and runs risks of earthquakes that may lead to a nuclear disaster.
“I don't think nuclear energy is a solution in Bangladesh…we must learn from the Fukushima disaster of Japan...Very thorough examination should be there on nuclear plant in Bangladesh,” he said.

On March 11, 2011, an earthquake and tsunami knocked out cooling systems for the reactors at the Fukushima nuclear plant, leading to meltdowns at three of them. Bangladesh is building a 2,000 megawatt nuclear plant in Pabna with Russian assistance.

The ambassador was addressing as chief guest the launching of a book, “Climate Change and Bangladesh”, in the capital's Cirdap.
The book, containing 14 articles of noted environmental experts and journalists, was published by the Centre for Development Communication (CDC) and edited by CDC Executive Director Muhammad Jahangir.

The German diplomat was also critical of coal-fired power stations which emit huge amounts of carbon. He blamed weak regulations for the excess amounts of carbon traditional brick kilns emit and for the pollution of rivers with industrial waste.

Clean energy must be promoted to prevent climate change and prevent the massive health expenses Bangladeshis incur, he said.
He suggested focusing on alternative and renewable energy sources and pointed at Bhutan, Nepal and the Maldives which were harnessing hydroelectricity.

Bangladesh also has large untapped onshore and offshore gas reserves that need to be explored, he said, emphasising on eco-friendly solar energy, of which Germany is an advocate.

Nearly 25 percent of Germany's electricity production comes from renewable energy.
He admitted that developed countries were mainly responsible for climate change but stated that developing countries like Bangladesh cannot just ignore their own responsibilities.

Journalist Mahfuzullah said while Bangladesh was a major victim of climate change, the fund meant for mitigation or adaptation to climate change was not being utilised efficiently while there were allegations of irregularities.

Dr Khaleq-uz-zaman, senior adviser for the Sustainable Energy for Development project of GIZ, a German development agency, said they were promoting a cooking stove in rural Bangladesh which can reduce fuel use by at least 50 percent and help prevent respiratory diseases like asthma.

Bangladesh Environmental Journalists Forum Chairman Quamrul Islam Chowdhury and Institute of Environment and Development Executive Director Numan Ahmed Khan spoke at the programme, moderated by Muhammad Jahangir.

Published: 12:01 am Sunday, February 23, 2014

Last modified: 1:49 am Sunday, February 23, 2014

@eastwatch @iajdani ........your thoughts?

 

[SarthakGanguly]

Bangladesh not ready for nuke plant | Says German ambassador

Bangladesh not ready for nuke plant

Says German ambassador, suggests renewable energy
Staff Correspondent

German Ambassador to Bangladesh Albrecht Conze yesterday expressed his reservations on setting up nuclear power plants in Bangladesh, saying that the country is too populated and runs risks of earthquakes that may lead to a nuclear disaster.
“I don't think nuclear energy is a solution in Bangladesh…we must learn from the Fukushima disaster of Japan...Very thorough examination should be there on nuclear plant in Bangladesh,” he said.

On March 11, 2011, an earthquake and tsunami knocked out cooling systems for the reactors at the Fukushima nuclear plant, leading to meltdowns at three of them. Bangladesh is building a 2,000 megawatt nuclear plant in Pabna with Russian assistance.

The ambassador was addressing as chief guest the launching of a book, “Climate Change and Bangladesh”, in the capital's Cirdap.
The book, containing 14 articles of noted environmental experts and journalists, was published by the Centre for Development Communication (CDC) and edited by CDC Executive Director Muhammad Jahangir.

The German diplomat was also critical of coal-fired power stations which emit huge amounts of carbon. He blamed weak regulations for the excess amounts of carbon traditional brick kilns emit and for the pollution of rivers with industrial waste.

Clean energy must be promoted to prevent climate change and prevent the massive health expenses Bangladeshis incur, he said.
He suggested focusing on alternative and renewable energy sources and pointed at Bhutan, Nepal and the Maldives which were harnessing hydroelectricity.

Bangladesh also has large untapped onshore and offshore gas reserves that need to be explored, he said, emphasising on eco-friendly solar energy, of which Germany is an advocate.

Nearly 25 percent of Germany's electricity production comes from renewable energy.
He admitted that developed countries were mainly responsible for climate change but stated that developing countries like Bangladesh cannot just ignore their own responsibilities.

Journalist Mahfuzullah said while Bangladesh was a major victim of climate change, the fund meant for mitigation or adaptation to climate change was not being utilised efficiently while there were allegations of irregularities.

Dr Khaleq-uz-zaman, senior adviser for the Sustainable Energy for Development project of GIZ, a German development agency, said they were promoting a cooking stove in rural Bangladesh which can reduce fuel use by at least 50 percent and help prevent respiratory diseases like asthma.
Bangladesh Environmental Journalists Forum Chairman Quamrul Islam Chowdhury and Institute of Environment and Development Executive Director Numan Ahmed Khan spoke at the programme, moderated by Muhammad Jahangir.

Published: 12:01 am Sunday, February 23, 2014

Last modified: 1:49 am Sunday, February 23, 2014

@eastwatch @iajdani ........your thoughts?

Wow! There goes my hope of buying a personal nuclear device

 

[Skies]

Wow! There goes my hope of buying a personal nuclear device

Please do not smash your head and break your teeth in happiness!

 

[IamBengali]

Stop jaywalking, use escalator
First-ever facility at Banani foot bridge aims to test commuters

Staff Correspondent

The city corporation is installing this escalator in the capital's Banani at a cost of Tk 1.5-crore in the hope that more pedestrians will use the footbridge and avoid jaywalking. Photo: Anisur Rahman


Dhaka North City Corporation is installing the country's first ever electric pedestrian escalator as part of a footbridge in the capital's Banani to encourage people to use overpass and prevent unsafe road crossing.
The Tk 1.5-crore escalator, imported from Malaysia, is being installed under a World Bank sponsored scheme, Clean Air and Sustainable Environment (CASE), which began in mid-2009.
The escalator, being built on a pilot basis, will connect Sainik Club and Banani road-11 across airport road.
It is intended to increase traffic mobility and reduce accidents by encouraging pedestrians, particularly the elderly people, to use the overhead bridge instead of transversely crossing the busy road, said Shehab Ullah, CASE project director.
The facility is expected to open to public this month and Dhaka North City Corporation will maintain it.
It, however, will not be useful for the physically challenged people, as it will only elevate the pedestrians onto the bridge and then they will have to take the manual staircase to get down.

It will also be difficult for those heading from Kakoli end to use the facility as the escalator is being fitted to the south side of the footbridge, said Abrar Simon, a resident of Banani.

The north (Kakoli) side of the bridge will continue to have a pair of regular staircase.

“We will survey how it impacts on pedestrian's behaviour,” said Shehab, adding, “If it achieves the desired goal, the city corporations may replicate it elsewhere as well.”

A total of 23 new footbridges are being built on major thoroughfares in the capital under the CASE scheme, he said.
Shamsul Hoque, a professor of civil engineering at Buet, said the initiative itself was good but its sustainability depended on proper maintenance and continuity.
“It should not be a showy beginning of a miserable end, as it happens in Bangladesh in many cases,” he added.

Published: 12:01 am Wednesday, March 05, 2014

Stop jaywalking, use escalator | First-ever facility at Banani foot bridge aims to test commuters

 

[Nishan_101]

Why not BD welcomes Middle Eastern Investors to invest in Minneral exploration in Bangladesh and set up oil and gas refineries along with Power Plants and Industries like Cotton in BD. More over they can cooperate on Port Shipping and Ship Yards as well.

 

[Skies]

https://twitter.com/x/status/450334260118163457

STORY HIGHLIGHTS

• Despite Bangladesh’s remarkable progress of lifting 16 million people out of poverty in the past decade, one-third of the population still live in poverty.
• To support the poor and vulnerable, the Government of Bangladesh implements a number of public social safety net programs.
• The Safety Net Systems for the Poorest (SNSP) Project aims to benefit 18 million poor people, by co-financing a portion of expenditures of major safety net programs while strengthening their effectiveness.

RELATED
WORLD BANK

• Safety Net Systems for the Poorest Project Documents and Details
• World Bank in Bangladesh
• World Bank Bangladesh on Facebook

Existing studies suggest that some of Bangladesh’s safety net programs have shown to be effective at reducing poverty and improving gender outcomes. The Bangladesh Safety Net System for the Poorest Project (SNSP)aims to improve the equity, efficiency and transparency of five of the largest social safety net programs to benefit the poorest households.

Challenge

Despite Bangladesh’s remarkable progress of lifting 16 million people out of poverty in the past decade, poverty remains a stubborn problem, with about 47 million people living in poverty and 26 million in extreme poverty. To support the poor and vulnerable, the government of Bangladesh implements a number of public social safety net programs that involve spending more than 2% of GDP yearly. Despite these interventions, 70% of poor people still do not receive any safety net support, mainly due to shortcomings in identifying poor beneficiaries and weak program administration.

Approach

SNSP aims to benefit four million households, comprising of 18 million poor people, by financing a portion of expenditures of major safety net programs implemented by the Ministry of Disaster Management & Relief, while supporting efforts to strengthen their implementation effectiveness. SNSP offers a results-based financing modality, where the World Bank would partially reimburse government expenditures made under selected safety net programs against specific performance indicators. These include allocating increased resources to the poorest, particularly poor women, and introducing an objective system better to identify the poor and minimize targeting errors.

The project will also focus on expanding the provision of cash-based transfers through the banking system or other financial channels (i.e. using mobile banking or the Bangladesh Post Office’s cash card) as well as strengthen access to information and grievance redress mechanisms to enhance transparency in program implementation. Furthermore, SNSP will introduce the consolidation of program processes as well as program management information systems to ensure stronger implementation and monitoring of safety nets.

The five safety net programs the project will support include the Employment Generation Program for the Poorest (EGPP), Food for Works (FFW), Test Relief (TR), Gratuitous Relief (GR) and Vulnerable Group Feeding (VGF) programs. The project will also support the Statistics and Informatics Division to develop a database of poor households that would facilitate better targeting of benefits under these programs as well as that of other programs implementing by other agencies. The database would also contribute to improving the coordination among the different ministries and agencies involved in safety net implementation.

Expected Results by 2017

• 18 million poor people to benefit from more effective safety net programs.
• 5 large Government safety net programs supported.

 

[eastwatch]

https://twitter.com/x/status/450334260118163457

STORY HIGHLIGHTS

• Despite Bangladesh’s remarkable progress of lifting 16 million people out of poverty in the past decade, one-third of the population still live in poverty.
• To support the poor and vulnerable, the Government of Bangladesh implements a number of public social safety net programs.
• The Safety Net Systems for the Poorest (SNSP) Project aims to benefit 18 million poor people, by co-financing a portion of expenditures of major safety net programs while strengthening their effectiveness.

RELATED
WORLD BANK

• Safety Net Systems for the Poorest Project Documents and Details
• World Bank in Bangladesh
• World Bank Bangladesh on Facebook

Existing studies suggest that some of Bangladesh’s safety net programs have shown to be effective at reducing poverty and improving gender outcomes. The Bangladesh Safety Net System for the Poorest Project (SNSP)aims to improve the equity, efficiency and transparency of five of the largest social safety net programs to benefit the poorest households.

Challenge

Despite Bangladesh’s remarkable progress of lifting 16 million people out of poverty in the past decade, poverty remains a stubborn problem, with about 47 million people living in poverty and 26 million in extreme poverty. To support the poor and vulnerable, the government of Bangladesh implements a number of public social safety net programs that involve spending more than 2% of GDP yearly. Despite these interventions, 70% of poor people still do not receive any safety net support, mainly due to shortcomings in identifying poor beneficiaries and weak program administration.

Approach

SNSP aims to benefit four million households, comprising of 18 million poor people, by financing a portion of expenditures of major safety net programs implemented by the Ministry of Disaster Management & Relief, while supporting efforts to strengthen their implementation effectiveness. SNSP offers a results-based financing modality, where the World Bank would partially reimburse government expenditures made under selected safety net programs against specific performance indicators. These include allocating increased resources to the poorest, particularly poor women, and introducing an objective system better to identify the poor and minimize targeting errors.

The project will also focus on expanding the provision of cash-based transfers through the banking system or other financial channels (i.e. using mobile banking or the Bangladesh Post Office’s cash card) as well as strengthen access to information and grievance redress mechanisms to enhance transparency in program implementation. Furthermore, SNSP will introduce the consolidation of program processes as well as program management information systems to ensure stronger implementation and monitoring of safety nets.

The five safety net programs the project will support include the Employment Generation Program for the Poorest (EGPP), Food for Works (FFW), Test Relief (TR), Gratuitous Relief (GR) and Vulnerable Group Feeding (VGF) programs. The project will also support the Statistics and Informatics Division to develop a database of poor households that would facilitate better targeting of benefits under these programs as well as that of other programs implementing by other agencies. The database would also contribute to improving the coordination among the different ministries and agencies involved in safety net implementation.

Expected Results by 2017

• 18 million poor people to benefit from more effective safety net programs.
• 5 large Government safety net programs supported.

Bangladesh way ahead of Pakistan

(Report by Pakistani media)

https://twitter.com/x/status/450334260118163457

STORY HIGHLIGHTS

• Despite Bangladesh’s remarkable progress of lifting 16 million people out of poverty in the past decade, one-third of the population still live in poverty.
• To support the poor and vulnerable, the Government of Bangladesh implements a number of public social safety net programs.
• The Safety Net Systems for the Poorest (SNSP) Project aims to benefit 18 million poor people, by co-financing a portion of expenditures of major safety net programs while strengthening their effectiveness.

RELATED
WORLD BANK

• Safety Net Systems for the Poorest Project Documents and Details
• World Bank in Bangladesh
• World Bank Bangladesh on Facebook

Existing studies suggest that some of Bangladesh’s safety net programs have shown to be effective at reducing poverty and improving gender outcomes. The Bangladesh Safety Net System for the Poorest Project (SNSP)aims to improve the equity, efficiency and transparency of five of the largest social safety net programs to benefit the poorest households.

Challenge

Despite Bangladesh’s remarkable progress of lifting 16 million people out of poverty in the past decade, poverty remains a stubborn problem, with about 47 million people living in poverty and 26 million in extreme poverty. To support the poor and vulnerable, the government of Bangladesh implements a number of public social safety net programs that involve spending more than 2% of GDP yearly. Despite these interventions, 70% of poor people still do not receive any safety net support, mainly due to shortcomings in identifying poor beneficiaries and weak program administration.

Approach

SNSP aims to benefit four million households, comprising of 18 million poor people, by financing a portion of expenditures of major safety net programs implemented by the Ministry of Disaster Management & Relief, while supporting efforts to strengthen their implementation effectiveness. SNSP offers a results-based financing modality, where the World Bank would partially reimburse government expenditures made under selected safety net programs against specific performance indicators. These include allocating increased resources to the poorest, particularly poor women, and introducing an objective system better to identify the poor and minimize targeting errors.

The project will also focus on expanding the provision of cash-based transfers through the banking system or other financial channels (i.e. using mobile banking or the Bangladesh Post Office’s cash card) as well as strengthen access to information and grievance redress mechanisms to enhance transparency in program implementation. Furthermore, SNSP will introduce the consolidation of program processes as well as program management information systems to ensure stronger implementation and monitoring of safety nets.

The five safety net programs the project will support include the Employment Generation Program for the Poorest (EGPP), Food for Works (FFW), Test Relief (TR), Gratuitous Relief (GR) and Vulnerable Group Feeding (VGF) programs. The project will also support the Statistics and Informatics Division to develop a database of poor households that would facilitate better targeting of benefits under these programs as well as that of other programs implementing by other agencies. The database would also contribute to improving the coordination among the different ministries and agencies involved in safety net implementation.

Expected Results by 2017

• 18 million poor people to benefit from more effective safety net programs.
• 5 large Government safety net programs supported.

GDP growth may cross 6pc | BBS makes preliminary estimate for this fiscal year

GDP growth may cross 6pc
BBS makes preliminary estimate for this fiscal year

Rejaul Karim Byron

Economic growth is likely to cross the 6 percent-mark this fiscal year despite the incapacitating political turmoil in the first half, according to a draft estimate by the Bangladesh Bureau of Statistics.

If the new base year of 2005-06 is considered, the GDP growth for fiscal 2013-14 is likely to be around 6.2 percent, down from its earlier estimation of 6.5 percent, according to a planning ministry official.

Using the same base year, the World Bank computed the GDP growth to be 5.4 percent and Bangladesh Bank 5.7 percent to 6.1 percent.

BBS officials said the GDP growth rate will be published using the new base year this year to reflect the changes the economy has underwent over the years. Six additional sectors have been to the economy in the new base year to take the total number of sectors to 21.

As new activities were included the GDP size is bound to increase, the BBS officials added. The BBS provisional estimate is at the final stage and is expected to be forwarded to the planning minister in a couple of days for his approval.

The state-run statistical agency's provisional estimate using the new base year for last fiscal year though turned out to be off the mark: it expected the GDP to grow by 6.18 percent but in reality it registered growth of 5.98 percent.

Meanwhile, the development update released by the WB last month said the political turmoil, stagnating private investment and declining remittance will cost the economy this year.

Remittance declined 4.78 percent year-on-year in the first ten months of the fiscal year, while the total loss to the economy by the political turmoil is around $1.4 billion, according to WB.

 

[Cyberian]

What's with Bangladesh changing its base year to make its economy look big? Is this some kind of a Government joke or something?

Just work hard people, very hard and Insha'Allah you'll see the growth that you desire for your nation.

 

[BDforever]

What's with Bangladesh changing its base year to make its economy look big? Is this some kind of a Government joke or something?

LoL it is part of Economy measurement technique. It is method to revise GDP factors in every 10 years because within this time many new industries opened up or some industries closed down

 

[eastwatch]

What's with Bangladesh changing its base year to make its economy look big? Is this some kind of a Government joke or something?

Just work hard people, very hard and Insha'Allah you'll see the growth that you desire for your nation.

The purpose of upgrading the economic base year is just not to look bigger. How about India? Its base year is 2010-11, as far as I know, and ours is 2005-06, still behind. What is your take in the India base year?

 

[Bilal9]

World Bank forecasts 5.4% GDP growth rate | Priyo News

Even with Bangladesh economy suffering a loss of $1.4 billion due to the poll-related political turmoil it is still ahead of most countries in South Asia except Sri Lanka. The WB has projected India’s GDP growth at 4.8 percent, 3.8 percent for Nepal, 3.4 percent for Pakistan, and 7.4 percent for Sri Lanka.

 

[UKBengali]

World Bank forecasts 5.4% GDP growth rate | Priyo News

Even with Bangladesh economy suffering a loss of $1.4 billion due to the poll-related political turmoil it is still ahead of most countries in South Asia except Sri Lanka. The WB has projected India’s GDP growth at 4.8 percent, 3.8 percent for Nepal, 3.4 percent for Pakistan, and 7.4 percent for Sri Lanka.

BD is a unitary state and so would be better able to develop than muli-ethnic states to our West. It is no surprise that unitary Sri Lanka is the leader here.

 

[Cyberian]

BD is a unitary state and so would be better able to develop than muli-ethnic states to our West. It is no surprise that unitary Sri Lanka is the leader here.

It's now almost 43 years since independence. How come that ideology hasn't already materialised?