Prime Minister Tarique Rahman today said the government's goal of building a trillion-dollar economy by 2034 is not a slogan but a plan to double the size of the economy through exports, investments, and financial discipline.
\u201cBangladesh has a new government, and Bangladesh has a new direction. Our goal is to build a trillion-dollar economy by 2034. This is not a slogan. It is a plan. We intend to double the size of our economy this decade through exports, investments, and financial discipline,\u201d he said.
The Prime Minister made the remarks during the signing of a financing agreement under which the Islamic Development Bank (IsDB) will provide around US$1 billion for the modernization and expansion of Eastern Refinery Limited (ERL) at the Bangladesh Secretariat here today, said Prime Minister's Deputy Press Secretary Hasan Shiplu.
Tarique Rahman said his government\u2019s mission is to transform Bangladesh into a manufacturing hub and a gateway to the region. \u201cGarments built our first growth story. Now we want electronics, pharmaceuticals, light engineering, and green industry to build the next one. We want factories that create jobs and jobs that create dignity,\u201d he said.
The Prime Minister also highlighted the government\u2019s social protection initiatives, including the Family Card and Farmer Card, while saying the Health Card is being processed.
Against the backdrop of growing geopolitical tensions, disruptions to global supply chains, energy and food insecurity, climate change, technological transformation, and rising development-financing costs, he said partnerships had become more important than ever.
In this context, Prime Minister Tarique called for a new approach to Bangladesh-IsDB cooperation that would be \u201cmore innovative, responsive, results-oriented, and closely aligned with Bangladesh\u2019s evolving development priorities.\u201d To reiterate, Bangladesh is focusing more on IsDB and its affiliates as reliable sources of development financing, he said.
Welcoming Dr Al Jasser to Bangladesh, Prime Minister congratulated him on his re-election as chairman of the IsDB Group, saying the bank had achieved significant results for its member countries and the Muslim Ummah under his leadership over the past five years.<\/p>\n\n\n\n
\u201cWe have every confidence that your second term will bring greater achievements, and my government looks forward to working side by side with you to achieve our mission,\u201d he said.<\/p>\n\n\n\n
Describing the financing agreement as a milestone, the premier said it was \u201cmore than a transaction\u201d and a statement of confidence that the Islamic Development Bank believes in Bangladesh.
\u201cFor decades, the Islamic Development Bank has stood by Bangladesh, and we are proud to be a founding member of this Bank,\u201d he said, adding, \u201cThat membership means a lot to us. It is built on more than finance. It is built on trust, solidarity, and shared purpose as members of the Islamic Ummah.\u201d
The Prime Minister appreciated Dr Al Jasser\u2019s leadership in establishing the Islamic Concessional Fund (ICF) as a low-cost financing window for developing-country members.<\/p>\n\n\n\n
He said Bangladesh was deeply committed to benefiting from the ICF and expressed hope that the fund would expand its concessional financing assistance to member countries amid growing global challenges.
The Prime Minister said officials of the ERD were working with their counterparts at the IsDB Regional Hub in Dhaka to identify potential projects.
Turning to the broader role of the IsDB, the Prime Minister said the bank could help connect its member countries by leveraging their respective strengths. \u201cSome member states lead in energy. Others lead in infrastructure. The Bank can be the bridge between them\u2014let the members build with each other, not just alongside each other,\u201d he said.
Prime Minister Tarique Rahman expressed gratitude to Dr Al Jasser for visiting Bangladesh and for his leadership in strengthening bilateral relations, saying, \u201cYour presence today speaks to the strength of the bond between us. Let this occasion renew our shared commitment\u2014to partnership, solidarity, innovation, and shared prosperity.\u201d
\u201cLet this occasion renew our shared commitment\u2014to partnership, solidarity, innovation, and shared prosperity,\u201d he added.
The Prime Minister added, \u201cToday\u2019s signing shows what partnership can do. It turns shared goals into real outcomes. The Eastern Refinery Modernization and Expansion Project is not just an energy investment. It is an investment in our energy security, our economic resilience, and our long-term capacity to grow.\u201d
The financing agreement for \u2018Modernization and Expansion of Eastern Refinery in Bangladesh\u2019 amounting to USD 1004.29 million was signed between the Government of Bangladesh (GoB) and the Islamic Development Bank (IsDB).
Dr. Mohammad Mizanur Rahman, Additional Secretary, Economic Relations Division, Ministry of Finance, and Anasse Aissami, Director General, Country Programs, IsDB, signed the agreement on behalf of the GoB and IsDB, respectively. <\/p>\n\n\n\n
Prime Minister Tarique Rahman and Dr. Muhammad Al Jasser, Chairman, Islamic Development Bank Group, graced the signing ceremony.
The project will be implemented by Bangladesh Petroleum Corporation (BPC) under the Energy and Mineral Resources Division.
Proper implementation of the project will enhance the BPC's current refining capacity from 1.5 million MT to 4.5 million MT, contributing to further strengthening the country's energy security, producing environmentally friendly (Euro-5 standard) petroleum oil, and reducing dependence on imported refined fuel oil.
IsDB is one of the trusted multilateral development partners of Bangladesh and has provided continuous support for the socioeconomic development of Bangladesh since its inception, in the form of grants, project loans, trade financing, private-sector financing, export credit guarantees, etc.
Immediately after the signing ceremony, the IsDB Group Chairman called on the Prime Minister and expressed his deep commitment to supporting Bangladesh's development priorities. <\/p>\n","protected":false},"excerpt":{"rendered":"
Prime Minister Tarique Rahman today said the government's goal of building a trillion-dollar economy by 2034 is not a slogan but a plan to double the size of the economy through exports, investments, and financial discipline. \u201cBangladesh has a new government, and Bangladesh has a new direction. Our goal is to build a trillion-dollar economy by […]<\/p>\n","protected":false},"author":6,"featured_media":36682,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,93],"tags":[45],"class_list":["post-36681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bangladesh","category-nationwide","tag-45"],"yoast_head":"\n