World Bank (WB)
Opinion / We need humility, not hubris, to turn the economy around
While a privileged minority, sitting in their high castles, continue to enjoy a larger and larger share of the fruits of “development,” it is becoming obvious that the vast majority are increasingly struggling.
WB to give $400m loan, $300m grant for Rohingya, hosts
World Bank (WB) yesterday approved two projects totalling $700 million to provide basic services and build disaster and social resilience for both the displaced Rohingya population in Bangladesh and the host communities.
Over 70% public projects not completed on time
As per the World Bank’s report on corruption in South Asian countries, almost 71 percent of the firms in Bangladesh are expected to give gifts to get an import licence, 42.5 percent to get a construction permit and 42 percent to get government contracts.
WB criticises tax provision on legalising black money
At present, taxpayers show their undisclosed assets in their tax returns through investment in apartments, buildings and economic zones and high-tech parks.
Bangladesh lost Tk 2 lakh crore in potential VAT
The WB measured VAT losses based on an analysis of the VAT gap -- an estimate of the overall difference between theoretical VAT revenue and the amount actually collected.
World Bank set to issue up to $1 billion in debut hybrid note this year
The World Bank is looking to issue up to $1 billion in a debut hybrid note on capital markets this year, a senior executive told Reuters
Bangladesh can raise three times more VAT if policy and compliance gaps addressed: World Bank
The recently updated Income Tax Act (2023) is an opportunity to increase income tax collection by expanding the tax base through improved compliance and tax services, it said in its Bangladesh Development Update report
World Bank emphasises further reforms in financial sector: finance minister
Finance Minister Abul Hassan Mahmood Ali said about World Bank's emphasis on reforms
Bangladesh to post sixth highest GDP growth in Asia in FY24
Bangladesh is poised to become one of the fastest growing economies in Asia, according to a WB report
World Bank launches youth competition on climate-smart growth
The World Bank has launched a youth competition, inviting solutions for climate-smart growth to mark 50 years of partnership with Bangladesh.
WB to give $300 million for Covid-19 resilience of Bangladesh’s urban institutions
The Local Government Covid-19 Response and Recovery Project will benefit 39.9 million urban residents in all eight divisions, the World Bank said in a statement today.
Economists and their predictions: What lies beneath the illusion of simplicity?
One of the most common shortcomings of the general art of prediction among economists is that the information we rely on draws on a theoretical framework based on past data and future expectations.
World Bank’s $500 million financing for Bangladesh’s disaster preparedness
The World Bank has approved a $500 million credit to help Bangladesh improve disaster preparedness against inland flooding in 14 flood-prone districts benefiting over 1.25 million people.
Bangladesh gets $753m for trade, connectivity
The World Bank yesterday approved a $1.03 billion financing to help improve regional trade in Bangladesh and Nepal by reducing trade and transport costs and transit time along the regional corridors.
World Bank slashes global growth forecast
The World Bank on Tuesday slashed its global growth forecast by 1.2 percentage points to 2.9 per cent for 2022, warning that Russia’s invasion of Ukraine has compounded the damage from the Covid-19 pandemic, with many countries likely to face recession.
Bangladesh’s poverty declines to 11.9%: World Bank
The estimated poverty in Bangladesh has declined by 0.6 per cent in the 2021 fiscal year, riding on the strong economic recovery amid the Covid-19 pandemic, according to the latest report of the World Bank.
World Bank raises Bangladesh's growth forecast to 6.4%
The World Bank has projected Bangladesh’s economy to grow at 6.4 per cent in 2021-22 fiscal year, which is 1.3 percentage points up from the global lender's previous forecast.
CPTU wins WB award
The Central Procurement Technical Unit (CPTU) has won the World Bank’s Directors Award for Most Innovative, Collaborative and Impactful Governance Global Practice Operations for its “Digitising Implementation Monitoring and Public Procurement Project (DIMAPPP)”.
WB approves $1.05b for Bangladesh to create quality jobs, respond to pandemic
The World Bank has approved $1.05 billion for three projects to help Bangladesh create quality jobs and accelerate economic recovery from the Covid-19 pandemic as well as build resilience to future crises.
