US pledges $202 million in aid to Bangladesh to achieve stability and economic growth
- In Reports
- 09:31 PM, Sep 16, 2024
- Myind Staff
The United States came forward to help Bangladesh assuring that it would continue its cooperation with the country in terms of its economic growth and development by providing an additional $202 million in aid on Sunday. The promise came during the visit of the six-member US team headed by Deputy Under Secretary of Treasury Department, Brent Neiman, which is the first important US visit since Bangladesh's interim government took office last month.
Bangladesh's Chief Adviser Yunus asked for aid worth $5 billion to stabilise Bangladesh's economy, which has been crumbling ever since the war in Ukraine helped the fuel and food prices go high. This plea comes after Bangladesh had sought a $4.7 billion bailout package from the International Monetary Fund earlier last year.
Under the agreement, USAID will provide a $202 million grant to support good governance, social, human and economic opportunities, and resilience. The deal was signed on Sunday in Dhaka. This falls within a 2021 deal where USAID committed to provide a total of $954 million over the period between 2021 and 2026. So far, $425 million has been provided already.
In a statement on Facebook after meeting with Yunus, the US embassy said it was ready to help Bangladesh work toward an even fairer and more inclusive future. Yunus has asked the US to support Bangladesh to enable the rebuilding of the country, reforming the judiciary, police, and financial institutions, and asset recovery from the previous government, his office said in a statement.
A U.S. delegation visiting the country stated that Washington is ready to offer both financial and technical aid to implement these reforms, the statement said. Discussions also touched on economic reforms, investment, labour issues, the Rohingya crisis, and Yunus's upcoming visit to New York for the U.N. General Assembly.
During the talks, the US visitors also met with important persons in the caretaker government, including Foreign Affairs Adviser Mohammad Touhid Hossain, Finance and Commerce Adviser Salehuddin Ahmed, and Bangladesh Bank Governor Ahsan Mansur, among others. The US Assistant Secretary for South Asia Donald Lu also became a part of the delegation in Dhaka. He was in Dhaka after he visited India.
Following the ouster of Prime Minister Sheikh Hasina amid widespread public demonstrations, Nobel laureate Chief Adviser Muhammad Yunus took over the interim government of Bangladesh. The US State Department representatives announced that they would meet to discuss how the US can assist in making Bangladesh realise its development vision and grow its economy while maintaining stability and strength in its financial system.
Image source: First Post
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