World Bank Helps Bangladesh Improve National Statistics

Stocks and Financial Services Press Releases Friday March 23, 2018 09:15
DHAKA--23 Mar--World Bank

DHAKA, March 22, 2018 – The World Bank today approved a $15 million financing to help Bangladesh produce timely and quality statistics. This will help the country make more evidence-based policy decisions.

The National Strategy for Development of Statistics Implementation Support Project will improve the Bangladesh Bureau of Statistics (BBS)'s capacity to produce and disseminate quality statistics in a timely manner.

"Quality statistics are necessary for development and poverty reduction efforts. They provide evidence for policy decisions. Timely, reliable, and publicly available statistics are central to understand needs, plan resource allocation, and monitor development progress," said Rajashree Paralkar, World Bank Acting Country Director for Bangladesh. "For the last decade, the World Bank has been supporting Bangladesh strengthen its statistical capacity. In recent years, the country made important strides including producing quarterly poverty and labor data."

In 2013, Bangladesh approved the National Strategy for the Development of Statistics (NSDS) and Statistics Act. The project will help implement key elements of the strategy. It will enhance coverage and improve collection and quality of data for core statistics, including, national accounts, price statistics, labor and industry statistics, social statistics, and agricultural statistics. Where applicable, it will also produce gender-disaggregated data.

"The project will help create an enabling environment to improve core statistics as per international standards," said Maria Eugenia Genoni, Task Team Leader, World Bank. "For this, the project will ensure effective coordination and management of statistical activities and impart sustainable training for human resource development."

The credit is from the International Development Association (IDA), the World Bank's concessional lending arm. The credit is interest-free and repayable in 38 years, including a 6-year grace period, and carries a service charge of 0.75 percent.

The World Bank was among the first development partners to support Bangladesh following its independence. Since then the World Bank has committed close to $27 billion interest-free credits to Bangladesh. In recent years, Bangladesh has been among the largest recipient of the World Bank's interest-free credits.


Latest Press Release

Photo Release: EXIM Thailand Visits Xayaburi Hydroelectric Power Project

Mr. Nopporn Thepsithar (fifth left), Chairman of the Board of Executive Directors, Export-Import Bank of Thailand (EXIM Thailand) and Dr. Narongchai Akarasanee (center), former Minister of Energy, recently visited Xayaburi Hydroelectric Power Project...

Thailands Promotion of Advanced Technology and Eco-system Development Enables Local Producers to Fly Higher

Thailand has been experiencing a gradual shift from a manufacturing to a high-value manufacturing economy after the country has put all its efforts into promoting the use of advanced technology, science, and innovation in parallel with the development of...

Get 5-Baht Cashback when making payment via K PLUS for BTS tickets until April 30, 2019

To celebrate the latest QR Code payment service via K PLUS for one-way BTS tickets bought from ticket issuing machines at BTS Stations, KBank has teamed up with BTS to offer a cashback of 5 Baht/trip, which will be credited into the passenger's account...

OKEx Revisited Bangkok After Launch of Thai Baht Trading

OKEx, a Malta-based world-leading digital asset exchange, has made a stop-over to Bangkok to bring industry leaders together to exchange ideas on blockchain technology. In view of the fast-growing digital asset community in Thailand, OKEx has launched...

MFC launches new 6-month fund investing in global debt instruments, IPO 18 22 February 2019

Mr. Lim Chong Boon Dennis, President, MFC Asset Management Public Company Limited, announced today that MFC will be launching the MFC International Fixed Income Fund 6 Months Series 12 or I-FIX 6M12 during 18 – 22 February 2019. The Fund is a...

Related Topics