BSS-43 FBCCI-WEBINAR, TWO LAST

393

ZCZC

BSS-43

FBCCI-WEBINAR, TWO LAST

World Bank Country Director Mercy Miyang Tembon said it is crucial to enhance the use of technology to facilitate supply chain finance. “Additionally, the stimulus package transition should be transparent and it is crucial to keep trade open. Our engagement of the World Bank has been crucial at this point by facilitating liquidity to support millions in accessing healthcare, processing financial support to economic zones, and much more,” she said.

She also said cooperation is crucial, as they are working with Bangladesh Bank to create a kind of risk-sharing, as most policies are dependent on financial institutions.

ADB Country Director Manmohan Parkash put forwarded a set of suggestions like injecting more cash into the economy, so that it helps with liquidity and domestic consumption.

He also suggested improving the access to finance, cheap, affordable, with limited collateral to promote entrepreneurship, and jobs, launching a massive employment generation scheme for returnee migrants and unemployed, focus on skills development and education.

Besides, Manmohan recommended for providing more support for health and agriculture sectors and food security as a share of GDP as well as maintaining social safety net and including vulnerable sections of the society in this net.

FBCCI President Sheikh Fazle Fahim said in the present context people from all levels have demonstrated exemplary humanity.

He said the FBCCI has been working to formulate an advisory framework and in this regard, discussions with Government leadership stakeholders, economists, academics, and industry leaders are ongoing to identify the potential impact of COVID-19 on Bangladesh’s economy.

“This is hopefully the first of many consultative engagements between stakeholders- both domestic and international; in helping entrepreneurs in accessing the government’s stimulus package.” he added.

Former Bangladesh Bank Governor Dr Salehuddin Ahmed said the government must have short term plans as well as formulate long term plans through the upcoming budget and five-year plans.

BSS/ASG/RI/GM/KU/2110 HRS