IMF reiterates to provide support in reform initiatives: Salehuddin

Adviser to the interim government on the Ministries of Finance and Commerce Dr Salehuddin Ahmed on Sunday said that the International Monetary Fund (IMF) had reiterated their stance of providing support to Bangladesh in carrying out reforms in the financial sector.

“IMF provides us with major budget support. The IMF will also extend support to us in the reform initiatives that we’re carrying out,” he said.

The Finance Adviser was talking to reporters this afternoon after IMF Resident Representative Jayendu De met him at his Finance Division office at Bangladesh Secretariat, reports BSS.

During the meeting, he said they also talked about the upcoming meeting with an IMF mission in this month where there would be more detailed talks.

Answering to a question, Dr Salehuddin hinted that the additional $3 billion loan that Bangladesh was expecting from the IMF would be separate in addition to the already approved $4.7 billion support package.

After the meeting with the IMF Resident Representative, French Ambassador to Bangladesh Marie Masdupuy, Korean Ambassador to Bangladesh Park Young Sik and Country Director of the International Fund for Agricultural Development (IFAD) in Bangladesh Dr Valantine Achancho met him separately at his office.

The Adviser said France has technical experts in various sectors including in IT while Bangladesh has some ongoing projects with French financing worth more than 400 million Euro. “They will also provide us support in different sectors,” he added.

In line with the French investments to Bangladesh, he hoped that many other countries would come to Bangladesh.

When asked about $1.1 billion possible support to Bangladesh announced by French president last year in climate change adaptation, the Adviser said there was no discussion in this regard.

“We’ve new priorities and those might not match with the priorities of the previous Awami League government, he added.

About his meeting outcomes with Korean Ambassador, Dr Salehuddin said Korea is one of Bangladesh’s important development partners and its quality and standard of work is very good.

He said the rate of interest of Korean loans is 0.5 percent which can be repaid in 40 years while it is also regarded as one of the softest loans. “Most of their (Korea’s) works are done through international bidding and a competitive process,” he added.

“We’re also looking at some big projects with Korean financing,” added the Finance Adviser.

Referring to his meeting with the IFAD Country Director, the Adviser said IFAD had long been operating in Bangladesh in agricultural projects, in agricultural finance as well it had provided enough support in micro finance and micro credit. “They (IFAD) have many ongoing projects in Bangladesh and they will come up with more projects,” he said.

Especially, the Adviser said they have talked on post-flood rehabilitation, adding, “IFAD has assured us of considering necessary support in this regard.”

ERD Secretary Shahriar Kader Siddiky and other senior officials were present, among others, in the meetings.