counter code
Home Business Double money is lying in reserve

Double money is lying in reserve

by endroar
Rate this post

Promises and concessions

According to the Economic Relations Department (ERD), since independence, various donor countries and organizations have pledged a total of $18,764 million in grants and loans to Bangladesh, which is equivalent to Tk 2.064 million in local currency at current market prices. About 32 percent or one-third of it has not yet been used by Bangladesh. The rate of not being able to use foreign aid is steadily increasing. Eight years ago in 2016, this rate was 29 percent.

In total, Bangladesh has been able to use 12 thousand 687 million dollars in foreign aid till last January. Apart from this, donor organizations and countries canceled the pledge of 1 thousand 422 million dollars due to various reasons including corruption. The remaining $4,655 million is now in the pipeline, which Bangladesh can use if it wants.

A top official of ERD Prothom-aloK said that as there are problems in the implementation of projects, the ministries show less interest in foreign aid projects due to various conditions of donors and bureaucratic complications regarding development projects. Over the years, the foreign aid exemption has increased several times.

source

related posts

Leave a Comment