Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Sunday, February 17, 2019 06:39:28 AM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Climate change

Muhith criticizes WB for not funding

By bdnews24.com
Share your thought
Post a comment »
Read all () »

Bangladesh finance minister AMA Muhith is unhappy with the World Bank (WB) for not delivering funds to combat climate change.

"We have agreed to allocate funds, but they have not been provided to us . This is disappointing," he told the WB-IMF annual meeting in Washington. Muhith said Bangladesh had spent $345 million in the past six years to fight climate change, but only $50 million of it had come from the World Bank.

"We have not come across proposals to increase the allocation by even $10 million," he told the Climate Ministerial Dialogue on Saturday. Speaking to the media later, Muhith said funds were urgently needed for countries like Bangladesh which are directly affected by climate change."I described our plight to those at the meeting. Making commitments and creating funds are not enough."

The minister said that representatives from other countries at risk due to climate change backed him.

"The carbon emissions of developed countries are damaging the environment of smaller economies. They must ensure we are provided enough funds to mitigate this damage," he said.

WB President Kim had also stressed the importance of this issue at the meeting, said Muhith.

The Green Climate Fund was formally announced at the 2010 United Nations Conference Climate Change Conference in Mexico. The fund pledged $100 billion a year to combat climate change in affected countries.

On Saturday, IMF chief Christine Lagarde met with the delegates at the IMF headquarters in Washington.

The finance minister raised the issue of the Green Climate Fund and said affected countries must have access to the funds at the meeting. Muhith also took time to meet a group of delegates led by US Treasury Deputy Assistant Secretary Michael Kaplan. Bangladesh Bank Governor Fazle Haq was also present at the meeting.

"For a long time, we have asked for a GSP facility from the US. Though the US had reacted favourably, no agreement has ben signed so far and I raised that issue at the meeting," the minister said.

When asked how the US delegates responded, Muhith said: "They said they would discuss the issue with the relevant authorities." The minister told reporters that export earnings had increased 8 percent in the previous fiscal year. "The trend is continuing this fiscal year. Our export diversity is also increasing. New export opportunities have developed as Square, Beximco and other companies have begun exporting pharmaceutical products from Bangladesh," he said. If a GSP agreement could be arranged with the US, then export earnings were likely to increase even further, he said. Bangladesh's export earnings touched $34.5 billion during the 2015-16 fiscal year. The current projections for the 2016-17 fiscal year for export earnings stood at $37 billion. "We achieve the targets we set," Muhith said.

"In 2009, the prime minister said Bangladesh would become a middle income country by 2021. We reached that goal in 2015. I truly believe we will also become an advanced economy by 2041.."

The minister said that the Bangladesh economy "now stands on a firm foundation".

"For the past five years our GDP grew by 6.5 percent. Now we have reached 7 percent growth. In the future the rate will be even higher." The minister did, however, admit that private sector investment had not increased.

"Private sector investment is currently about 22-23 percent of the GDP. This must increase. It is now our primary focus." He believes private sector investment will increase in the current financial year.

The World Bank-IMF Annual Meeting ends on Sunday.

Add Rate

News Archive

Inside The New Nation

Editorial »

Ensure safety for patients in the hospitals by any means

CITY'S Shaheed Suhrawardy Medical College Hospital has started operations after a messy situation caused by fire on Thursday evening. Director of the SSMCH said a total of 1,174 patients, including 72 children, were shifted to other government hospitals after the fire originated at the children's ward on the second floor ...

Sports »

Stunned Japan swimmers back stricken Olympic pin-up Ikee

AFP, Tokyo :Japanese swimmers have vowed to step up their efforts in support of Rikako Ikee, the poster girl for the 2020 Tokyo Olympics who has announced she is suffering from leukaemia.Earlier this week, the 18-year-old swim queen tweeted that she had cut short a training camp in Australia after ...

Football »

Capoue sends Watford into FA Cup quarter-finals at QPR's expense

Etienne Capoue's goal in first-half stoppage time was enough to give Watford a 1-0 win away to Queens Park Rangers (QPR) on Friday that saw the Hornets into the quarter-finals of the FA Cup.Both sides had opportunities in an even opening period that belied the fact that Watford are eighth ...

International »

Turkey has not revealed all about Khashoggi killing : Erdogan

AFP, Ankara :Turkey has not yet revealed all the information it has discovered about the killing of journalist Jamal Khashoggi in the Saudi consulate in Istanbul, President Recep Tayyip Erdogan said Friday."We haven't given all the elements we have at our disposal," the Turkish head of state said during an ...

Entertainment »

Fagun Haway' draws huge acclamation

Entertainment Desk :The premier show of 'Fagun Haway', a movie based on the 1952 Language Movement, draw a large number of film loving people at cinema halls.Actor turned director Tauquir Ahmed directed the movie which was released simultaneously at 52 cinema halls across the country.The story of the movie was ...

City »

The Namaz-e-Janaza of Poet Al Mahmud was held at the Jatiya Press Club on Saturday.

Editorial »

Save the Sunderbans to save the Royal Bengal Tigers

FOR the constant rise in sea levels and rapid climate change, the famous Royal Bengal Tigers of the Sunderbans could be disappeared within 50 years, especially from the Bangladesh part, according to a new study published recently in the journal Science of The Total Environment. A team of Bangladeshi and ...

City »

Members of RAB-2 nabbed one on Friday from Narayanganj for taking money from government officials from different areas in the country impersonating Anti-Corruption Commission official.


Cricket »

Feels like it`s a blessing to just be playing again: Steyn

Agency :Dale Steyn, the South African mainstay, continued to impress on his comeback trail, as he bowled at high pace and picked up four wickets over a long spell on Day 2 of the first Test of the two-match series versus Sri Lanka in Durban.The veteran fast bowler bowled at ...

Entertainment »

Shanta Jahan feels comfortable in hosting

Sheikh Arif Bulbon :Popular host of present time Shanta Jahan has to be engaged with hosting round the year in and outside the country in different stage shows and TV programmes. Besides hosting, she has more identities. She is also a model and TV actress. But she always feels comfortable ...

International »

Trump heavier, but in ‘very good health’: Doctor

AFP, Washington :President Donald Trump is a little heavier than last year and needs a higher dose of cholesterol medicine, but remains in "very good health," his official doctor said Thursday.The presidential physician, Sean Conley, said Trump, 72, passed his medical exam last week with flying colors."It is my determination ...

Cricket »

It was difficult to hit through the line of the ball in Napier: Guptill

Martin Guptill is happy to work his way through the travails of a slow Napier pitch and score an ODI hundred, which helped New Zealand beat Bangladesh by eight wickets in the opening game of the three-match series. The hosts had notably lost the ODI against India here couple of ...

International »

Taliban announces surprise talks with US in Pakistan

PTI, Islamabad :The Taliban said Wednesday that its negotiators would meet US envoys for talks this month in Islamabad, and also sit down with Pakistan Prime Minister Imran Khan to discuss Afghanistan.While Islamabad did not immediately confirm the talks, Washington said it had "noted" the announcement, which comes after weeks ...

International »

Judge finds Manafort lied to investigators in Russia probe

AP, Washington :Former Trump campaign chairman Paul Manafort intentionally lied to investigators and a federal grand jury in the special counsel's Russia probe, a judge ruled Wednesday.U.S. District Judge Amy Berman Jackson's decision was another loss for Manafort, a once-wealthy political consultant who rose to lead Donald Trump's 2016 campaign ...

Editorial »

Myanmar`s provocation: Dhaka should deal with the issue delicately

YET again Myanmar has shown Saint Martin's Island of Bangladesh as of its part in the official map. Protesting it, Dhaka on Thursday summoned Myanmar Chargé d'affaires and handed over a strongly worded protest note also expressing serious dissatisfaction over repeating such false claim, and demanded immediate corrective measures. Director ...

Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Write a comment to this news