K4DM Project

𝐅𝐨𝐫𝐠𝐢𝐧𝐠 𝐭𝐡𝐞 𝐅𝐮𝐭𝐮𝐫𝐞: 𝐑𝐞𝐢𝐧𝐯𝐞𝐧𝐭𝐢𝐧𝐠 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐑𝐞𝐥𝐚𝐭𝐢𝐨𝐧𝐬 𝐚𝐧𝐝 𝐑𝐞𝐬𝐨𝐮𝐫𝐜𝐞𝐬

In a rapidly evolving global economy, Bangladesh's ambitions for sustainable growth are both challenging and inspiring. The three-day training, "Reinvention of Economic Relations and Resources," held at BCDM, Savar, from December 5-7, 2024, marked a significant stride in equipping recently joined officers of the Economic Relations Division (ERD) with the skills and knowledge to meet these challenges head-on. Supported by the Knowledge for Development Management (K4DM) Phase-II project of UNDP, the event brought together experts, seasoned officials, and enthusiastic participants to explore the intricacies of foreign resource mobilization, innovative financing, and effective negotiation.

First day began with an introduction to the training’s objectives. Mr. A.K.M. Sohel, Additional Secretary, ERD, emphasized the importance of innovative resource management. Mr. Md. Shahriar Kader Siddiky, Secretary, ERD further stressed, "Our future lies in mastering negotiations and navigating complex financing processes." The day covered fundamental ERD terminologies and concepts essential for understanding financial agreements.
2nd day of the training dived into procurement procedures for foreign-funded projects, led by Mr. Mohammed Shoheler Rahman Chowdhury, Former CEO, BPPA. He highlighted transparency and integrity in procurement, saying, "Accountability and integrity are crucial for the success of any development initiative." The focus shifted to resource mobilization and debt management, with Mr. Syed Ashrafuzzaman from ERD urging participants to adopt strategic foresight in managing external financing.
Day 3 featured sessions on planning foreign-funded projects and negotiation strategies. Mr. Shish Haider Chowdhury, Secretary, ICT Division shared insights on aligning projects with national priorities, emphasizing, "Planning is key to ensuring projects deliver sustainable impacts." In the "Art of Negotiation" session, Mr. Md. Shahriar Kader Siddiky engaged participants in practical exercises, underscoring the importance of negotiation tactics in securing favorable outcomes.

Throughout the training, participants participated in the quizzes, discussed and analyzed case studies and presented their findings. These interactive activities, alongside in-depth discussions, helped strengthen their analytical and negotiation skills.

The training concluded with a reflection from the best trainee and speeches from Dr. Salehuddin Ahmed, Hon’ble Finance Adviser, and Mr. Stefan Liller, UNDP Resident Representative, who encouraged the participants to lead with knowledge and confidence as Bangladesh moves towards a sustainable future. Dr. Salehuddin Ahmed, Hon’ble Finance Adviser, celebrated the participants' dedication, remarking, " the interim government is committed to address all of these challenges and accelerate our economic development, increase growth, educate our younger generation, ensure health services for the citizens and social security for the vulnerable groups, create more jobs, develop investment friendly and growth promoting infrastructures, promote increased industrial production and exports." In the speech of the special guest Mr. Stefan Liller, Resident Representative, UNDP reaffirmed UNDP’s commitment to Bangladesh, stating, "committed to assist ERD on such efforts to acquire cutting-edge knowledge for its officials so that its institutional capacity would enhance further for the mobilization of development finance for Bangladesh."

The participants left equipped with strategic tools, technical insights, and a deeper understanding of their pivotal roles in shaping Bangladesh's economic future. As the ERD continues its vital work of external resource mobilization, the ripple effects of this initiative will undoubtedly resonate across the nation's development landscape.

𝗘𝗥𝗗 𝗠𝗲𝗲𝘁𝘀 𝗦𝘁𝗮𝗸𝗲𝗵𝗼𝗹𝗱𝗲𝗿𝘀 𝗮𝗻𝗱 𝗗𝗶𝘀𝗰𝘂𝘀𝘀𝗲𝘀 𝗗𝗲𝗯𝘁 𝗦𝗲𝗿𝘃𝗶𝗰𝗲 𝗟𝗶𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗼𝗳 𝗕𝗮𝗻𝗴𝗹𝗮𝗱𝗲𝘀𝗵

The Economic Relations Division (ERD), supported by the Knowledge for Development Management (K4DM) Phase-II project, held a pivotal meeting on September 30, 2024, to address Bangladesh’s debt service liability. Chaired by Mr. Md. Shahriar Kader Siddiky, Secretary of ERD, the meeting brought together representatives from bilateral and multilateral development partners to discuss the current debt service obligations and their economic impact on the country.

The session began with a welcome from Mr. A K M Sohel, Additional Secretary and Wing Chief (UN) of ERD, who emphasized the critical importance of addressing debt liabilities to sustain national development. In his opening remarks, Mr. Siddiky highlighted the role of effective debt management in ensuring fiscal stability and long-term growth. He stressed that managing external debt carefully is essential for supporting infrastructure investments, human capital development, and strategies for export-led growth, all while tackling emerging challenges like climate change.

A keynote presentation by Mr. Syed Ashrafuzzaman, Joint Secretary (FABA-1), ERD, provided a comprehensive overview of Bangladesh’s debt service liabilities, trends in debt accumulation, and fiscal implications. He underscored that while current debt levels are manageable, proactive measures are necessary to mitigate future risks. His presentation also covered strategies such as securing favorable loan terms and sustainable borrowing practices.

The meeting saw an engaging discussion among participants, who highlighted challenges like global economic shifts, exchange rate pressures, and inflation on debt management. Development partners stressed the need for continuous collaboration and efficient debt portfolio management to help Bangladesh navigate these challenges. Mr. Siddiky reassured stakeholders of ongoing government initiatives, including a social sector impact assessment led by the General Economics Division (GED), to address pressures in social sector investments.

In closing, Mr. Siddiky expressed gratitude for the valuable insights shared and affirmed ERD’s commitment to continued collaboration with development partners, ensuring Bangladesh’s path to sustainable development remains steady and resilient.