DHAKA, April 23, 2020 (BSS) – Finance Minister AHM Mustafa Kamal today
sought greater and continued assistance from the Asian Infrastructure
Investment Bank (AIIB) in various sectors of the country to overcome the shock
of novel coronavirus (COVID-19) pandemic.
In order to face the adverse impact of this deadly virus on the country’s
economy and also on society, Kamal sought greater AIIB assistance, including
higher project assistance for the next fiscal year (FY21), $500 million
budget support for FY21 and FY22 for continuing the economic recovery
programme of the government which will be used for automation of the
agriculture sector, processing of the agricultural products, fruits,
vegetables, cold storage, leather processing, poultry farming, rearing
livestock and fish farming.
Besides, the finance minister sought $100 million from the AIIB for the
micro, small, medium and cottage industries.
The finance minister discussed the issues during a teleconference with AIIB
President Jin Liqun, said a Ministry press release.
Kamal said, “Coronavirus has started to put impact on our imports and
exports while most of our expatriate Bangladeshis have become jobless due to
this pandemic. As a result, the inward remittance flow has come to a
standstill and to face such crisis moment, we seek continued support and
assistance,” he said.
Extending thanks to the AIIB president for announcing a $10 billion
financial package for supporting the member countries to overcome the impact
of COVID-19, the minister also hoped that with the support from the AIIB, the
member developing countries would be able to overcome the adverse impact of
this deadly virus.
The finance minister also thanked the AIIB for announcing $450 million
immediate support to Bangladesh for tackling this virus crisis.
“The whole world is now going to face a severe global economic recession.
The shock of the global economic recession has also become a matter of
concern for the economy of Bangladesh. Despite this, we’re working to face
the possible negative impact of this virus on our economy,” he said.
Kamal said the commitment of assistance by AIIB to Bangladesh in this
crisis moment was very much essential, but under the present circumstances,
the government needs much more assistance.
In response, the AIIB president told the Finance Minister that he would
actively consider the issue of providing financial assistance to Bangladesh
and would inform the government of Bangladesh later about this.
Jin also informed that the funding modality could be changed slightly.
Kamal apprised the AIIB president about the steps undertaken by Bangladesh
to prevent and control COVID-19.
He mentioned that Prime Minister Sheikh Hasina has announced stimulus
packages of Taka 95,619 crore, which is 3.3 percent of GDP, to offset the
adverse impact of the coronavirus on various sectors.
The AIIB president lauded the Prime Minister for announcing such huge
amount of stimulus packages in the wake of COVID-19 as well as various steps
of the government to face this crisis.
The AIIB president said the global economy is undoubtedly going to fall
into risks and the situation is changing every now and then. “If the whole of
the world doesn’t think of the economy alongside tackling this pandemic, then
the economy won’t come to normalcy even in 2021,” he observed.
Jin also informed that the member countries have assured him of working
together while facing this pandemic.
He requested the finance minister to speedily complete the ongoing AIIB
supported projects in Bangladesh.
Currently there are some 7 projects with an overall AIIB support of $1.18
billion of which 3 projects were approved in 2020.