BB to mobilise $7b fund for infrastructure: Governor

2nd 5-yr strategic plan launched

Bangladesh Bank Governor Atiur Rahman yesterday said the central bank will mobilise a $7-billion fund for the country’s infrastructure development to accelerate the GDP growth from 6 per cent to 8 per cent, aiming to fulfill the nation’s dream of becoming a middle-income country, reports UNB. "Entrepreneurs and economists have insisted for $7-8 billion investment for infrastructure development to achieve an 8 per cent growth rate. We’re ready to mobilise this $7 billion fund," said Atiur.
The central bank boss was speaking at the bank's 5-year strategic plan unveiling function at its Mirpur Training Academy in the capital.
The Bangladesh Bank prepared the 5-year ‘Strategic Plant 2015-19’ in continuation of its last strategic plan 2010-2014 to streamline the banking business and promote financial inclusion to achieve a sustainable inclusive growth.
In the Strategic Plan 2015-19, 14 strategic goals were set to achieve a total of 105 objectives while 310 action plans undertaken and 395 key performance indicators incorporated.
Held with Bangladesh Bank deputy governor Nazneen Sultana in the chair, the function was also addressed by deputy governors SK Sur Chowdhury and Abu Hena Razee Hasan, management consultant Jahangir Kabir and executive director Ahsan Ullah.
Atiur said the central bank has been managing its foreign exchange reserve in a secure manner. "We're supplying foreign currency for Padma bridge project through receiving the equivalent amount of local currency from the implementing agency so that it cannot create any adverse effect," he said.
Making a call for taking more infrastructure projects like the Padma bridge one, he said the central bank is ready to take any challenge to provide adequate foreign funds for the projects.
Urging all the departments of the Bangladesh Bank to evolve their own strategic plans to make the central strategic plan a success, the governor said all the private and public banks should have their own strategic plans in cohesion with central bank's one.
"Once it’s done, then the country's total financial sector will get a comprehensive financial strategic plan to achieve the goal of becoming a middle-income country," he said.
Highlighting Bangladesh Bank’s success in different areas of the financial sector, including mobile banking, digitisation of banking service,
school banking, SME Loan, women entrepreneur development and crop-sharers' loan, BB governor said many central banks are now following
the Bangladesh Bank and trying to
learn from it.
"Now our target is to turn the Bangladesh Bank into a paperless central bank through digitisation and removing all bureaucratic hassles," he said.
Nazneen Sultana said the central bank is going to introduce more programmes to advance the digital services of the banking sector.
Abu Hena Razee said the Bangladesh Bank has achieved a major success in bringing the remittance into the banking channel which ultimately plays a vital role in boosting the foreign currency reserve.

 

BB to mobilise $7b fund for infrastructure: Governor

2nd 5-yr strategic plan launched

Bangladesh Bank Governor Atiur Rahman yesterday said the central bank will mobilise a $7-billion fund for the countrys infrastructure development to accelerate the GDP growth from 6 per cent to 8 per cent, aiming to fulfill the nations dream of becoming a middle-income country, reports UNB. Entrepreneurs and economists have insisted for $7-8 billion investment for infrastructure development to achieve an 8 per cent growth rate. Were ready to mobilise this $7 billion fund, said Atiur. The central bank boss was speaking at the banks 5-year strategic plan unveiling function at its Mirpur Training Academy in the capital. The Bangladesh Bank prepared the 5-year Strategic Plant 2015-19 in continuation of its last strategic plan 2010-2014 to streamline the banking business and promote financial inclusion to achieve a sustainable inclusive growth. In the Strategic Plan 2015-19, 14 strategic goals were set to achieve a total of 105 objectives while 310 action plans undertaken and 395 key performance indicators incorporated. Held with Bangladesh Bank deputy governor Nazneen Sultana in the chair, the function was also addressed by deputy governors SK Sur Chowdhury and Abu Hena Razee Hasan, management consultant Jahangir Kabir and executive director Ahsan Ullah. Atiur said the central bank has been managing its foreign exchange reserve in a secure manner. Were supplying foreign currency for Padma bridge project through receiving the equivalent amount of local currency from the implementing agency so that it cannot create any adverse effect, he said. Making a call for taking more infrastructure projects like the Padma bridge one, he said the central bank is ready to take any challenge to provide adequate foreign funds for the projects. Urging all the departments of the Bangladesh Bank to evolve their own strategic plans to make the central strategic plan a success, the governor said all the private and public banks should have their own strategic plans in cohesion with central banks one. Once its done, then the countrys total financial sector will get a comprehensive financial strategic plan to achieve the goal of becoming a middle-income country, he said. Highlighting Bangladesh Banks success in different areas of the financial sector, including mobile banking, digitisation of banking service, school banking, SME Loan, women entrepreneur development and crop-sharers loan, BB governor said many central banks are now following the Bangladesh Bank and trying to learn from it. Now our target is to turn the Bangladesh Bank into a paperless central bank through digitisation and removing all bureaucratic hassles, he said. Nazneen Sultana said the central bank is going to introduce more programmes to advance the digital services of the banking sector. Abu Hena Razee said the Bangladesh Bank has achieved a major success in bringing the remittance into the banking channel which ultimately plays a vital role in boosting the foreign currency reserve.