bangladesh now a case study of economic uplift in world

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Bangladesh now a case study of economic uplift in world

Renowned US online newspaper Policy Watcher lauded Bangladesh's economic achievements saying that as one of the fastest growing economies, Bangladesh has now become a case study of economic development in the world.

"On the basis of macro-economic stability, the economy of Bangladesh has grown 271 times in 50 years," said the online newspaper in an article of its July 22 issue with headline 'Is Bangladesh's economy really moving fast?'

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Policy Watcher carried the article in its editorial picks section and writer Emilia Fernandez, a security and political analyst with a particular focus on South Asian geopolitics, is a Ph.D. researcher at the University of Lucerne, Switzerland.

In the article Emilia Fernandez said Bangladesh is ahead of India and Pakistan in many economic and social indicators. Bangladesh has now become a case study of economic development in the world, which few economists could have predicted, she added.

When Bangladesh overtook Pakistan in GDP growth in 2006, many dismissed it as a fluke but since then, Bangladesh has surpassed Pakistan every year and Bangladesh is now one of the fastest growing economies in the world, she wrote.

She said Bangladesh's successful journey is a good example and in just two decades Bangladesh has overtaken Pakistan in important economic indicators and Bangladesh's per capita GDP has grown by 500 percent in the last 20 years, which is two and a half times that of Pakistan.

Bangladesh is ahead of India-Pakistan in economic freedom index, she said, added that according to a report by the Washington-based conservative think tank The Heritage Foundation, Bangladesh is ranked 120th with a score of 56.5 in 2021. India is at the 121st position with the same score as Bangladesh and Pakistan's position is 152nd.

She said Bangladesh is ahead of India-Pakistan in global peace index. In the latest Global Peace Index (GPI) published by the Institute for Economics and Peace (IEP), an international research institute based in Sydney, Australia, Bangladesh is ahead of India and Pakistan in South Asia, she added.

The economic journey of independent Bangladesh started in 1972 and at that time India and Pakistan were ahead in every economic index.

"Today after 50 years India and Pakistan are lagging behind Bangladesh in almost every index. This is the great achievement of the independence.

Human resource is considered the most important factor in the development of any country, so Bangladesh is ahead not only of Pakistan but also India in many fields," she said in the write-up.

She said Bangladesh has far ahead of Pakistan in terms of women education, health care, women empowerment, reduction of maternal and child mortality.

She wrote that all the countries of the world are facing tough times in the global recession except few and this pressure is being felt strongly in Bangladesh as well. Bangladesh's foreign exchange reserves were at rock bottom when the current government came to power and the economy was on the verge of collapsing under the charisma of the overqualified One-Eleven regime, she said, adding that since then, the history of Bangladesh is moving forward.

Even during this Great Recession, Bangladesh's economic growth has outstripped that of what is considered the world's richest and best economic power, she wrote.

Bangladesh's strong steps forward has started the burning of the world. The manipulation of world leaders has started on how to stop this country, Emilia Fernandez said and added that however, the fact that Bangladesh cannot be defeated has been highlighted in the Goldman Sachs report as it is said that Bangladesh will be the 16th economy in the world by 2075.

According to the forecast, she said the GDP of Bangladesh will increase to 6.3 trillion dollars in 2075. (1 trillion dollars equals 1 trillion dollars). According to that, the GDP of Bangladesh will be 6.3 trillion dollars. GDP in local currency will be Tk 686.7 lakh crore. This is Tk 636 lakh crore more than the government's estimated GDP in the current financial year. The economy is predicted by the potential for training and skills for a country's growing population, labor force and vast talent pool. Goldman Sachs' GDP Outlook 2075 calls emerging economies promising. The economy of Bangladesh is moving fast. Due to the corona epidemic, the GDP growth has slowed down a bit, but the economy is picking up again.

"If this trend continues, Bangladesh will be able to reach the desired destination in 2075. The economy of Bangladesh will surpass Saudi Arabia, Canada, Australia, Turkey, Italy, Malaysia and South Korea. The world will look at Bangladesh in amazement," wrote Emilia Fernandez.

তিন ইসলামি ব্যাংকের ‘ঋণ কেলেঙ্কারি’ তদন্তের নির্দেশ বাতিল করল হাইকোর্ট

এস আলম গ্রুপ এই তিন ব্যাংকের প্রধান শেয়ার হোল্ডার।

ফ্লোর প্রাইসের ভুল থেকে শেখেনি বিএসইসি, আবারও সূচকে হস্তক্ষেপ

Development needs to change. Bangladesh can show us how

Bangladesh has been hailed as a case study in how to reduce poverty. Image:  Eyefays / Pixabay

.chakra .wef-1c7l3mo{-webkit-transition:all 0.15s ease-out;transition:all 0.15s ease-out;cursor:pointer;-webkit-text-decoration:none;text-decoration:none;outline:none;color:inherit;}.chakra .wef-1c7l3mo:hover,.chakra .wef-1c7l3mo[data-hover]{-webkit-text-decoration:underline;text-decoration:underline;}.chakra .wef-1c7l3mo:focus,.chakra .wef-1c7l3mo[data-focus]{box-shadow:0 0 0 3px rgba(168,203,251,0.5);} Asif Saleh

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• The world is changing – and the way we approach development must change, too.
• Bangladesh's success story is a lesson in development for the modern world.
• Here's a guide to what has worked so well – and why.

Even in its most remote corners, the world is changing. Global unrest, climate change and growing numbers of refugees are blurring the lines between development and humanitarian response. Migration to cities is causing societal changes; technology is creating both opportunities and division; and the financing landscape is going through a tectonic shift.

To meet these challenges, development needs to be done differently. The sector risks becoming irrelevant if it can’t adapt. Lessons from Bangladesh offer examples on how to stay relevant.

Have you read?

Planet or prosperity: how bangladesh is navigating a just transition to clean energy, what bangladesh can teach and learn about closing the education gender gap, 4 things to know about financing sustainable development.

Since its founding in 1971, Bangladesh has emerged from overwhelming poverty to be proclaimed by The World Bank in 2020 as 'a model for poverty reduction'. It achieved the highest cumulative GDP growth globally from 2010 to 2020 and is now on course to become a developed country by 2041 . The Bangladesh paradox has been researched well, and the role of non-governmental organizations (NGOs) in this progress is well documented. What is not researched enough is why their approach has been so successful.

The traditional approach to development across the world has been fairly uni-directional; designed and dictated by decision-makers from the Global North. Implementation strategies are imposed on local partners, who are in turn held accountable to them by these decision-makers, who also decide how impact is measured. Aid recipients are seen as 'beneficiaries' whose primary role is to be grateful for the assistance. Once the project is over, or donors' priorities shift, everything changes. Long-term development is short-changed.

Approaches by international development organizations like BRAC and microfinance lender Grameen have provided an antithesis to this model. They are fundamentally challenging the way development programmes are designed, financed and scaled. They have brought a sense of entrepreneurial zeal, courage and ambition to the sector, which has led to concrete results – BRAC, for example, has scaled its work to a level where almost every one of the 170 million people in Bangladesh has received services from it or one of its subsidiaries.

There are four key reasons behind this success in Bangladesh:

First and foremost , there was plenty of room for NGOs in Bangladesh. Successive governments have seen and understood the positive results of social innovations by NGOs, and that those results complemented their work of getting services to citizens.

This work prioritized simple, frugal solutions for complex challenges. It benefited from the support of international institutions, governments and philanthropic actors, but support was channelled to programmes and self-sustaining social enterprises that were developed and grounded in local communities.

Secondly , the key to BRAC’s approach is its very different way of looking at people; it sees them as active contributors to economic growth. BRAC believes that the way to unmake poverty and inequality is to invest in the potential of people living in poverty, and to address the critical market gaps that fail them. Too often capitalism looks at the base of the pyramid and sees millions of potential consumers. In doing this, it misses out on the opportunity to tap into their creativity, engage them in productive livelihoods, and link them to markets – or to create new ones.

Thirdly , taking a problem-driven approach, rather than a proposal-driven one, and looking at problems holistically, has produced a steady stream of innovations to meet critical needs in multiple communities from multiple dimensions. Crucial to this has been engaging women from those communities as catalysts of change, in positions such as teachers , health workers and artisans .

Last but not least , there is the tacit realization that real, sustainable development is not a five-year project cycle. It takes time. Long-term development is about building capacity, raising awareness about harmful behaviours and giving people the tools to change their own futures. Investing time in building depth in programming, being on the ground, and having a deep understanding of community dynamics is crucial.

Does this long term and interconnected programming mean greater expense? No. It means greater value. Until the UK brutally slashed its foreign aid budget, which deeply impacted BRAC, BRAC’s strategic programming accounted for 17% of the UK’s global impact on extreme poverty and 13% of children completing primary school education, while costing 0.5% of its annual development budget.

Long term, problem-focused and human capacity-centred programming is effective. BRAC’s Ultra-Poor Graduation ’s model has provided access to training and incentives to almost 10 million people to lift themselves out of extreme poverty and onto self-sustainability. BRAC’s one-room school model , which comprehensively addresses every reason parents do not send their children to school , has brought education to 14 million children, the majority of whom are girls.

BRAC Bank’s bKash , the first mobile financial service provider in Bangladesh, has become, in just 10 years, a verb in daily spoken Bangla, and transacts almost $2 billion every day. Grameen Trust bet on mobile phones in Bangladesh in the mid-90s, transforming the rural economy by creating Grameen Phone, Bangladesh’s most popular mobile phone company. Both Grameen and BRAC have microfinance entities that have scaled the most in the country, bringing financial services to almost 15 million clients at one of the lowest interest rates for microfinance institutions globally.

Long-term development is about building capacity, raising awareness about harmful behaviours and giving people the tools to change their own futures.

This programming approach can also lead to the creation of social enterprises that generate vital funding to tackle poverty and inequality. For example, BRAC Bangladesh’s annual spend on development programming is approximately $150 million, and BRAC itself is now is the biggest contributor to this. In Bangladesh, BRAC’s Aarong connects 65,000 artisans to markets to create the nation’s most popular lifestyle brand. Aarong Dairy links farmers who often have just three cows each to otherwise inaccessible markets; it now makes up one-third of the nation’s dairy market.

What does this all mean for the sector? At a time when the development challenges are greater than ever and financial constraints are severe, development organizations need to be bold, ambitious and precise in identifying problems and solutions, like the private sector. We need to be patient, pro-poor and human centered, like the public sector. More than ever before, we need to work strategically, hand-in-hand, with private actors and governments, to ensure holistic, scalable solutions.

The COVID-19 pandemic has increased poverty and inequality worldwide. Bangladesh’s NGOs offer crucial lessons for all. It is time to challenge the status quo and do development differently worldwide.

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Bangladesh now a case study of economic uplift in world

It is time to prioritise inclusive growth.

Renowned US online newspaper Policy Watcher lauded Bangladesh's economic achievements saying that as one of the fastest growing economies, Bangladesh has now become a case study of economic development in the world. On the basis of macro-economic stability, the economy of Bangladesh has grown 271 times in 50 years, said the online newspaper in an article of its July 22 issue with headline 'Is Bangladesh's economy really moving fast?'

Bangladesh economy continues to grow despite global economic slowdown and it remains robust compared to that of other countries in the region. Despite infrastructure bottlenecks and shortage of power in industry, country's major macroeconomic indicators like the growth rate of GDP has remarkably increased and Bangladesh has set a target to achieve 8.51 percent GDP growth by 2025. The existing policies implemented by the government over the last several years have been fruitful towards boosting the country’s economic growth. As a result of the government’s various endeavours, the pace of the country’s remittance inflow remarkably increased over the last several years.

In order to sustain the country’s economic

 growth and make it more

 inclusive, the government must take 

initiatives for creating more 

jobs both in the public and private 

We have reiterated our gratification over the robust growth our economy has achieved over the last decade.  There is no denying that the country is speeding on the highway of economic growth, but beneath this optimistic picture there also lies the worrying side of it.

While the latest piece of news is encouraging, the issue of inclusive growth must not be ignored. The rich-poor divide has been growing over the past decade and the fruits of the robust growth have not trickled down to the masses at the expected level. Inequality of wealth between rich and poor has been on an ever-increasing trend. 

Reportedly, less than 10 percent of the total population own more than what the rest 90 percent does. Hence , in order to sustain the country’s economic growth and make it more inclusive, the government must take initiatives for creating more jobs both in the public and private sectors.

In Bangladesh, hundreds of thousands of students pass out of colleges and universities with higher degrees every year but many of them remain unemployed. 

Boosting private sector investment can change this scenario and make the growth more meaningful. In order to shove Bangladesh to the next level of growth, private investment has to be promoted further.

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Bangladesh now a case study of economic uplift in world

Renowned US online newspaper Policy Watcher lauded Bangladesh's economic achievements saying that as one of the fastest growing economies, Bangladesh has now become a case study of economic development in the world.

"On the basis of macro-economic stability, the economy of Bangladesh has grown 271 times in 50 years," said the online newspaper in an article of its July 22 issue with headline 'Is Bangladesh's economy really moving fast?' 

Policy Watcher carried the article in its editorial picks section and writer Emilia Fernandez, a security and political analyst with a particular focus on South Asian geopolitics, is a Ph.D. researcher at the University of Lucerne, Switzerland,  reports BSS.

In the article Emilia Fernandez said Bangladesh is ahead of India and Pakistan in many economic and social indicators. Bangladesh has now become a case study of economic development in the world, which few economists could have predicted, she added. 

When Bangladesh overtook Pakistan in GDP growth in 2006, many dismissed it as a fluke but since then, Bangladesh has surpassed Pakistan every year and Bangladesh is now one of the fastest growing economies in the world, she wrote. 

She said Bangladesh's successful journey is a good example and in just two decades Bangladesh has overtaken Pakistan in important economic indicators and Bangladesh's per capita GDP has grown by 500 percent in the last 20 years, which is two and a half times that of Pakistan. 

Bangladesh is ahead of India-Pakistan in economic freedom index, she said, added that according to a report by the Washington-based conservative think tank The Heritage Foundation, Bangladesh is ranked 120th with a score of 56.5 in 2021. India is at the 121st position with the same score as Bangladesh and Pakistan's position is 152nd.

She said Bangladesh is ahead of India-Pakistan in global peace index. In the latest Global Peace Index (GPI) published by the Institute for Economics and Peace (IEP), an international research institute based in Sydney, Australia, Bangladesh is ahead of India and Pakistan in South Asia, she added. 

The economic journey of independent Bangladesh started in 1972 and at that time India and Pakistan were ahead in every economic index. 

"Today after 50 years India and Pakistan are lagging behind Bangladesh in almost every index. This is the great achievement of the independence. 

Human resource is considered the most important factor in the development of any country, so Bangladesh is ahead not only of Pakistan but also India in many fields," she said in the write-up. 

She said Bangladesh has far ahead of Pakistan in terms of women education, health care, women empowerment, reduction of maternal and child mortality.

She wrote that all the countries of the world are facing tough times in the global recession except few and this pressure is being felt strongly in Bangladesh as well. Bangladesh's foreign exchange reserves were at rock bottom when the current government came to power and the economy was on the verge of collapsing under the charisma of the overqualified One-Eleven regime, she said, adding that since then, the history of Bangladesh is moving forward.

Even during this Great Recession, Bangladesh's economic growth has outstripped that of what is considered the world's richest and best economic power, she wrote. 

Bangladesh's strong steps forward has started the burning of the world. The manipulation of world leaders has started on how to stop this country, Emilia Fernandez said and added that however, the fact that Bangladesh cannot be defeated has been highlighted in the Goldman Sachs report as it is said that Bangladesh will be the 16th economy in the world by 2075.

According to the forecast, she said the GDP of Bangladesh will increase to 6.3 trillion dollars in 2075. (1 trillion dollars equals 1 trillion dollars). According to that, the GDP of Bangladesh will be 6.3 trillion dollars. GDP in local currency will be Tk 686.7 lakh crore. This is Tk 636 lakh crore more than the government's estimated GDP in the current financial year. The economy is predicted by the potential for training and skills for a country's growing population, labor force and vast talent pool. Goldman Sachs' GDP Outlook 2075 calls emerging economies promising. The economy of Bangladesh is moving fast. Due to the corona epidemic, the GDP growth has slowed down a bit, but the economy is picking up again. 

"If this trend continues, Bangladesh will be able to reach the desired destination in 2075. The economy of Bangladesh will surpass Saudi Arabia, Canada, Australia, Turkey, Italy, Malaysia and South Korea. The world will look at Bangladesh in amazement," wrote Emilia Fernandez. 

Bangladesh now a case study of economic uplift in world

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Renowned US online newspaper Policy Watcher lauded Bangladesh's economic achievements saying that as one of the fastest growing economies, Bangladesh has now become a case study of economic development in the world.   "On the basis of macro-economic stability, the economy of Bangladesh has grown 271 times in 50 years," said the online newspaper in an article of its July 22 issue with headline 'Is Bangladesh's economy really moving fast?' 

Policy Watcher carried the article in its editorial picks section and writer Emilia Fernandez, a security and political analyst with a particular focus on South Asian geopolitics, is a Ph.D. researcher at the University of Lucerne, Switzerland. 

In the article Emilia Fernandez said Bangladesh is ahead of India and Pakistan in many economic and social indicators. Bangladesh has now become a case study of economic development in the world, which few economists could have predicted, she added. 

When Bangladesh overtook Pakistan in GDP growth in 2006, many dismissed it as a fluke but since then, Bangladesh has surpassed Pakistan every year and Bangladesh is now one of the fastest growing economies in the world, she wrote. 

She said Bangladesh's successful journey is a good example and in just two decades Bangladesh has overtaken Pakistan in important economic indicators and Bangladesh's per capita GDP has grown by 500 percent in the last 20 years, which is two and a half times that of Pakistan. 

Bangladesh is ahead of India-Pakistan in economic freedom index, she said, added that according to a report by the Washington-based conservative think tank The Heritage Foundation, Bangladesh is ranked 120th with a score of 56.5 in 2021. India is at the 121st position with the same score as Bangladesh and Pakistan's position is 152nd.

She said Bangladesh is ahead of India-Pakistan in global peace index. In the latest Global Peace Index (GPI) published by the Institute for Economics and Peace (IEP), an international research institute based in Sydney, Australia, Bangladesh is ahead of India and Pakistan in South Asia, she added. 

The economic journey of independent Bangladesh started in 1972 and at that time India and Pakistan were ahead in every economic index. 

"Today after 50 years India and Pakistan are lagging behind Bangladesh in almost every index. This is the great achievement of the independence. 

Human resource is considered the most important factor in the development of any country, so Bangladesh is ahead not only of Pakistan but also India in many fields," she said in the write-up. 

She said Bangladesh has far ahead of Pakistan in terms of women education, health care, women empowerment, reduction of maternal and child mortality.

She wrote that all the countries of the world are facing tough times in the global recession except few and this pressure is being felt strongly in Bangladesh as well. Bangladesh's foreign exchange reserves were at rock bottom when the current government came to power and the economy was on the verge of collapsing under the charisma of the overqualified One-Eleven regime, she said, adding that since then, the history of Bangladesh is moving forward.

Even during this Great Recession, Bangladesh's economic growth has outstripped that of what is considered the world's richest and best economic power, she wrote. 

Bangladesh's strong steps forward has started the burning of the world. The manipulation of world leaders has started on how to stop this country, Emilia Fernandez said and added that however, the fact that Bangladesh cannot be defeated has been highlighted in the Goldman Sachs report as it is said that Bangladesh will be the 16th economy in the world by 2075.

According to the forecast, she said the GDP of Bangladesh will increase to 6.3 trillion dollars in 2075. (1 trillion dollars equals 1 trillion dollars). According to that, the GDP of Bangladesh will be 6.3 trillion dollars. GDP in local currency will be Tk 686.7 lakh crore. This is Tk 636 lakh crore more than the government's estimated GDP in the current financial year. The economy is predicted by the potential for training and skills for a country's growing population, labor force and vast talent pool. Goldman Sachs' GDP Outlook 2075 calls emerging economies promising. The economy of Bangladesh is moving fast. Due to the corona epidemic, the GDP growth has slowed down a bit, but the economy is picking up again. 

"If this trend continues, Bangladesh will be able to reach the desired destination in 2075. The economy of Bangladesh will surpass Saudi Arabia, Canada, Australia, Turkey, Italy, Malaysia and South Korea. The world will look at Bangladesh in amazement," wrote Emilia Fernandez. 

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BD now a case study of economic uplift in world

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Bangladesh: Dealing with climate change and strengthening resilience

The insurance sector in Bangladesh offers no protection to the rural population from natural disasters. Without access to insurance, farmers must limit their investments in farm implements and are unable to diversify their agricultural activities. A lack of investment and simultaneously low crop yields result in smallholder farmers being unable to free themselves from poverty.

Strengthening resilience

The Bangladesh Microinsurance Market Development Project (BMMDP) was launched in 2017 by the Swiss Agency for Development and Cooperation (SDC). Its objective is to increase the resilience of farmers to withstand climate-related crop failures and improve food security by way of microinsurance products.

Solutions for climate protection

According to the World Bank’s Country Climate and Development Report, Bangladesh may lose up to one-third of its gross domestic product by 2050 due to climate fluctuations and natural disasters. As approximately 38 per cent of the working-age population earns a living in agriculture, income stability and crop security, particularly for smallholder farmers, are a top priority for the country. In order to improve farmer resilience and productivity, the project is working closely with the insurance market in Bangladesh and developing insurance products for crops and farm animals, as well as services to minimize risks.

As part of the programme for sustainable agriculture implemented jointly with the Syngenta Foundation, Swisscontact has introduced a completely new type of insurance to Bangladesh: weather index-based crop insurance. Data is compiled at various weather stations and evaluated over a specific time period. The insurance makes an indexed payout whenever the values of a previously set threshold are exceeded or undercut.

The advantage of this method is that the insurance payout is neither based on the type of crop nor on its effective yield, instead, the payments are independent of the individual farmer’s losses. This means there is no individual damage assessment, and the administrative costs can be decreased significantly.

Weather report via voice calls

The insurance also offers various advisory services, such as voice calls informing farmers of the weather forecast and offering them agricultural advisory services (outbound dialling service, or OBD). Direct voice calls are greatly advantageous over brief news clips because they also reach illiterate people. Given Bangladesh’s literacy rate of 75 per cent in 2020, the use of voice calls has been shown to be significantly more effective than news clips in informing farmers.

Production cost savings

In addition, the farmers receive seasonal advisory services. By getting informed on good agricultural practices such as the use of organic fertilisers or field irrigation for crops such as rice, potatoes, maize, etc., they can undertake the necessary measures to minimise the risk of crop failures from unfavourable weather changes.

One example from the field illustrates this service vividly: a farmer planning to fertilise his crop in the next few days will receive a phone call informing him of upcoming rains. Thus, he decides to delay fertilising until after the rain has ended so that the fertiliser is not washed away. This saves him money and resources.

A lighthouse project for partnership

The programme works together with a dozen partners from the private sector and insurance field on innovative solutions. It is thus a lighthouse project for successful collaboration between international development cooperation and the private sector.

As part of this programme, Swisscontact also helped in the development of the first disease and death insurance policy for cattle, for which farmers file an application and the costs of treatment for insured cattle are reimbursed. This medical insurance product uses the latest technology of machine learning to identify insured cattle by nose prints. Just as every human being has their own fingerprint, each head of cattle has its own unique nose print. Given that in Bangladesh cattle are worshipped and considered sacred, it is forbidden to clip a chip onto them.

From 2017 through 2022, more than 800,000 farmers have taken out crop and cattle insurance as part of the project. Nearly 480,000 of these farmers were women. The volume of financing forwarded to farmers amounted to 166 million Swiss francs. 463,000 farmers benefited from the use of climate-resistant land cultivation methods.

“For many years, we have relied on income from the sale of fish and vegetables. It was difficult to feed a family of four. We earned additional income from planting rice and potatoes. But this was also risky, because downpours, thick fog, drought, and storms destroyed the harvest. In 2021, I found out about crop insurance and soon took one out. I received weekly weather forecasts and agricultural advisory services free-of-charge. This helped me to better manage my crop. In April 2022, I suffered great losses when my potato fields were damaged by a storm. Because I was insured, I was reimbursed for most of my losses. This gave me a feeling of security. By and by, I have started to invest in planting other crops.”

Ms Tohura Khatun, a Bangladeshi farmer

“There is enormous insurance potential in Bangladesh, particularly in agriculture. Without a doubt, we must work toward improving access to insurance and emphasise insurance products tailored to real needs. Now that the first illness and death insurance policies for cattle have been introduced, I can state with confidence that our efforts, along with the support and guidance provided by this project and our partners, have yielded fruit.”

Papia Rahman, Deputy CEO, Chartered Insurer

“We offer crop insurance to smallholder farmers in Africa, Asia, and Latin America. This year, Swisscontact has helped us to enter a new country and develop a customised insurance product called the Area Yield Index Insurance (AYII) for potatoes in Bangladesh. AYII has never been offered on a large scale in Bangladesh; thanks to this project, we were able to develop this new product and launch it on the market.”

Elise Lee, Business Director, Pula Advisors AG

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Bangladesh now a case study of economic uplift in world

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Staff Correspondent: Renowned US online newspaper Policy Watcher lauded Bangladesh’s economic achievements saying that as one of the fastest growing economies, Bangladesh has now become a case study of economic development in the world. “On the basis of macro-economic stability, the economy of Bangladesh has grown 271 times in 50 years,” said the online newspaper in an article of its July 22 issue with headline ‘Is Bangladesh’s economy really moving fast?’ Policy Watcher carried the article in its editorial picks section and writer Emilia Fernandez, a security and political analyst with a particular focus on South Asian geopolitics, is a Ph.D. researcher at the University of Lucerne, Switzerland. In the article Emilia Fernandez said Bangladesh is ahead of India and Pakistan in many economic and social indicators. Bangladesh has now become a case study of economic development in the world, which few economists could have predicted, she added. When Bangladesh overtook Pakistan in GDP growth in 2006, many dismissed it as a fluke but since then, Bangladesh has surpassed Pakistan every year and Bangladesh is now one of the fastest growing economies in the world, she wrote. She said Bangladesh’s successful journey is a good example and in just two decades Bangladesh has overtaken Pakistan in important economic indicators and Bangladesh’s per capita GDP has grown by 500 percent in the last 20 years, which is two and a half times that of Pakistan. Bangladesh is ahead of India-Pakistan in economic freedom index, she said, added that according to a report by the Washington-based conservative think tank The Heritage Foundation, Bangladesh is ranked 120th with a score of 56.5 in 2021. India is at the 121st position with the same score as Bangladesh and Pakistan’s position is 152nd. She said Bangladesh is ahead of India-Pakistan in global peace index. In the latest Global Peace Index (GPI) published by the Institute for Economics and Peace (IEP), an international research institute based in Sydney, Australia, Bangladesh is ahead of India and Pakistan in South Asia, she added. The economic journey of independent Bangladesh started in 1972 and at that time India and Pakistan were ahead in every economic index. “Yesterday after 50 years India and Pakistan are lagging behind Bangladesh in almost every index. This is the great achievement of the independence. Human resource is considered the most important factor in the development of any country, so Bangladesh is ahead not only of Pakistan but also India in many fields,” she said in the write-up. She said Bangladesh has far ahead of Pakistan in terms of women education, health care, women empowerment, reduction of maternal and child mortality. She wrote that all the countries of the world are facing tough times in the global recession except few and this pressure is being felt strongly in Bangladesh as well. Bangladesh’s foreign exchange reserves were at rock bottom when the current government came to power and the economy was on the verge of collapsing under the charisma of the overqualified One-Eleven regime, she said, adding that since then, the history of Bangladesh is moving forward. Even during this Great Recession, Bangladesh’s economic growth has outstripped that of what is considered the world’s richest and best economic power, she wrote. Bangladesh’s strong steps forward has started the burning of the world. The manipulation of world leaders has started on how to stop this country, Emilia Fernandez said and added that however, the fact that Bangladesh cannot be defeated has been highlighted in the Goldman Sachs report as it is said that Bangladesh will be the 16th economy in the world by 2075. According to the forecast, she said the GDP of Bangladesh will increase to 6.3 trillion dollars in 2075. (1 trillion dollars equals 1 trillion dollars). According to that, the GDP of Bangladesh will be 6.3 trillion dollars. GDP in local currency will be Tk 686.7 lakh crore. This is Tk 636 lakh crore more than the government’s estimated GDP in the current financial year. The economy is predicted by the potential for training and skills for a country’s growing population, labor force and vast talent pool. Goldman Sachs’ GDP Outlook 2075 calls emerging economies promising. The economy of Bangladesh is moving fast. Due to the corona epidemic, the GDP growth has slowed down a bit, but the economy is picking up again. “If this trend continues, Bangladesh will be able to reach the desired destination in 2075. The economy of Bangladesh will surpass Saudi Arabia, Canada, Australia, Turkey, Italy, Malaysia and South Korea. The world will look at Bangladesh in amazement,” wrote Emilia Fernandez.

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Bangladesh now a case study of economic uplift in world

Renowned US online newspaper Policy Watcher lauded Bangladesh’s economic achievements saying that as one of the fastest growing economies, Bangladesh has now become a case study of economic development in the world.

“On the basis of macro-economic stability, the economy of Bangladesh has grown 271 times in 50 years,” said the online newspaper in an article of its July 22 issue with headline ‘Is Bangladesh’s economy really moving fast?’

Policy Watcher carried the article in its editorial picks section and writer Emilia Fernandez, a security and political analyst with a particular focus on South Asian geopolitics, is a Ph.D. researcher at the University of Lucerne, Switzerland.

In the article Emilia Fernandez said Bangladesh is ahead of India and Pakistan in many economic and social indicators. Bangladesh has now become a case study of economic development in the world, which few economists could have predicted, she added.

When Bangladesh overtook Pakistan in GDP growth in 2006, many dismissed it as a fluke but since then, Bangladesh has surpassed Pakistan every year and Bangladesh is now one of the fastest growing economies in the world, she wrote.

She said Bangladesh’s successful journey is a good example and in just two decades Bangladesh has overtaken Pakistan in important economic indicators and Bangladesh’s per capita GDP has grown by 500 percent in the last 20 years, which is two and a half times that of Pakistan.

Bangladesh is ahead of India-Pakistan in economic freedom index, she said, added that according to a report by the Washington-based conservative think tank The Heritage Foundation, Bangladesh is ranked 120th with a score of 56.5 in 2021. India is at the 121st position with the same score as Bangladesh and Pakistan’s position is 152nd.

She said Bangladesh is ahead of India-Pakistan in global peace index. In the latest Global Peace Index (GPI) published by the Institute for Economics and Peace (IEP), an international research institute based in Sydney, Australia, Bangladesh is ahead of India and Pakistan in South Asia, she added.

The economic journey of independent Bangladesh started in 1972 and at that time India and Pakistan were ahead in every economic index. “Today after 50 years India and Pakistan are lagging behind Bangladesh in almost every index. This is the great achievement of the independence.

Human resource is considered the most important factor in the development of any country, so Bangladesh is ahead not only of Pakistan but also India in many fields,” she said in the write-up.

She said Bangladesh has far ahead of Pakistan in terms of women education, health care, women empowerment, reduction of maternal and child mortality.

She wrote that all the countries of the world are facing tough times in the global recession except few and this pressure is being felt strongly in Bangladesh as well. Bangladesh’s foreign exchange reserves were at rock bottom when the current government came to power and the economy was on the verge of collapsing under the charisma of the overqualified One-Eleven regime, she said, adding that since then, the history of Bangladesh is moving forward.

Even during this Great Recession, Bangladesh’s economic growth has outstripped that of what is considered the world’s richest and best economic power, she wrote.

Bangladesh’s strong steps forward has started the burning of the world. The manipulation of world leaders has started on how to stop this country, Emilia Fernandez said and added that however, the fact that Bangladesh cannot be defeated has been highlighted in the Goldman Sachs report as it is said that Bangladesh will be the 16th economy in the world by 2075.

According to the forecast, she said the GDP of Bangladesh will increase to 6.3 trillion dollars in 2075. (1 trillion dollars equals 1 trillion dollars). According to that, the GDP of Bangladesh will be 6.3 trillion dollars. GDP in local currency will be Tk 686.7 lakh crore. This is Tk 636 lakh crore more than the government’s estimated GDP in the current financial year. The economy is predicted by the potential for training and skills for a country’s growing population, labor force and vast talent pool. Goldman Sachs’ GDP Outlook 2075 calls emerging economies promising. The economy of Bangladesh is moving fast. Due to the corona epidemic, the GDP growth has slowed down a bit, but the economy is picking up again.

“If this trend continues, Bangladesh will be able to reach the desired destination in 2075. The economy of Bangladesh will surpass Saudi Arabia, Canada, Australia, Turkey, Italy, Malaysia and South Korea. The world will look at Bangladesh in amazement,” wrote Emilia Fernandez.

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Bangladesh now a case study of economic uplift in world

Renowned US online newspaper Policy Watcher lauded Bangladesh's economic achievements saying that as one of the fastest growing economies, Bangladesh has now become a case study of economic development in the world.

Policy Watcher carried the article in its editorial picks section and writer Emilia Fernandez, a security and political analyst with a particular focus on South Asian geopolitics, is a Ph.D. researcher at the University of Lucerne, Switzerland. 

In the article Emilia Fernandez said Bangladesh is ahead of India and Pakistan in many economic and social indicators. Bangladesh has now become a case study of economic development in the world, which few economists could have predicted, she added. 

When Bangladesh overtook Pakistan in GDP growth in 2006, many dismissed it as a fluke but since then, Bangladesh has surpassed Pakistan every year and Bangladesh is now one of the fastest growing economies in the world, she wrote. 

Bangladesh is ahead of India-Pakistan in economic freedom index, she said, added that according to a report by the Washington-based conservative think tank The Heritage Foundation, Bangladesh is ranked 120th with a score of 56.5 in 2021. India is at the 121st position with the same score as Bangladesh and Pakistan's position is 152nd.

She said Bangladesh is ahead of India-Pakistan in global peace index. In the latest Global Peace Index (GPI) published by the Institute for Economics and Peace (IEP), an international research institute based in Sydney, Australia, Bangladesh is ahead of India and Pakistan in South Asia, she added. 

The economic journey of independent Bangladesh started in 1972 and at that time India and Pakistan were ahead in every economic index.  "Today after 50 years India and Pakistan are lagging behind Bangladesh in almost every index. This is the great achievement of the independence. 

Human resource is considered the most important factor in the development of any country, so Bangladesh is ahead not only of Pakistan but also India in many fields," she said in the write-up. 

She said Bangladesh has far ahead of Pakistan in terms of women education, health care, women empowerment, reduction of maternal and child mortality.

She wrote that all the countries of the world are facing tough times in the global recession except few and this pressure is being felt strongly in Bangladesh as well. Bangladesh's foreign exchange reserves were at rock bottom when the current government came to power and the economy was on the verge of collapsing under the charisma of the overqualified One-Eleven regime, she said, adding that since then, the history of Bangladesh is moving forward.

Even during this Great Recession, Bangladesh's economic growth has outstripped that of what is considered the world's richest and best economic power, she wrote. 

Bangladesh's strong steps forward has started the burning of the world. The manipulation of world leaders has started on how to stop this country, Emilia Fernandez said and added that however, the fact that Bangladesh cannot be defeated has been highlighted in the Goldman Sachs report as it is said that Bangladesh will be the 16th economy in the world by 2075.

According to the forecast, she said the GDP of Bangladesh will increase to 6.3 trillion dollars in 2075. (1 trillion dollars equals 1 trillion dollars). According to that, the GDP of Bangladesh will be 6.3 trillion dollars. GDP in local currency will be Tk 686.7 lakh crore. This is Tk 636 lakh crore more than the government's estimated GDP in the current financial year. The economy is predicted by the potential for training and skills for a country's growing population, labor force and vast talent pool. Goldman Sachs' GDP Outlook 2075 calls emerging economies promising. The economy of Bangladesh is moving fast. Due to the corona epidemic, the GDP growth has slowed down a bit, but the economy is picking up again. 

"If this trend continues, Bangladesh will be able to reach the desired destination in 2075. The economy of Bangladesh will surpass Saudi Arabia, Canada, Australia, Turkey, Italy, Malaysia and South Korea. The world will look at Bangladesh in amazement," wrote Emilia Fernandez. 

Source : BSS

Bangladesh now a case study of economic uplift in world.

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Study: Dignity, choice increased with economic development of rural population

The ENRICH program covers 197 unions in Bangladesh

A study was conducted for 13 years, to assess the effectiveness of the Palli Karma-Sahayak Foundation's (PKSF) development program “Samriddhi” or ENRICH.

The ENRICH program covers 1.3 million households of 197 unions in Bangladesh. 

Survey findings indicate that the average income and the food intake of program participants have increased significantly. 

The number of people earning more than Tk10,000 also went up to more than 50% during the end-line, as opposed to 15% during the baseline. 

The findings show, the average monthly income per capita in ENRICH unions was Tk1,435, during baseline and it increased to Tk1,871 during the end-line. 

The study also revealed the most significant changes in terms of food intake took place in the Saghata, Durgapur, and Simanto unions, where the number of people who eat three meals a day increased to 98%. The intake of animal protein also saw a rise during this period. 

In order to evaluate the effectiveness of the ENRICH program, the study was conducted by the University of Sussex's Professor Dr Martin Greeley, Associate Professor at the Department of Development Studies, University of Dhaka Dr Asif M Shahan, and Assistant Professor of the same department, Dr Shubhasish Barua. 

Based on the results of the research, a book titled “Sustainable Development, Human Dignity and Choice: Lessons from the ENRICH Programme, Bangladesh” was published by the international publishing house Springer Nature. 

The research book was unveiled at PKSF Auditorium in Dhaka's Agargaon on Thursday. Prime Minister's economic adviser Mashiur Rahman was present as the chief guest. 

PKSF Chairman Qazi Kholiquzzaman Ahmad, and Managing Director Dr Nomita Halder were also present.

According to the assessment survey, seven out of 10 unions, where the scheme was implied, saw an improvement in toilet availability. 

Health card holders also received all the services delivered under the health component of ENRICH. The end-line survey reports that 53.6% of the surveyed households have a health card now. During baseline, this number was 1.6%, which is very low. 

Dr Asif M Shahan said the dropout rate among primary school children in ENRICH unions has come down to 0.9%, whereas the national average is 4%. 

The school performance of 90% of students who attend the ENRICH educational assistance centres also improved. 

PKSF Managing Director, Dr Nomita Halder, said the main objective of this program of PKSF is to alleviate poverty through employment. 

“The project also aims to improve the dignity of the village people. This assessment study will give an idea of how that is happening and the evaluation situation of the project results, which are new things for us,” she added.

Emphasizing various aspects of the program, she further said PKSF has allocated Tk80 crore in the current financial year for the implementation of several welfare-oriented activities, where 16 million families have been supported with multifaceted activities such as health, education, and economic independence.

After unveiling the book, Mashiur Rahman said the concept of dignity is not often highlighted in discussions related to the economy or growth. 

He said this study considers human dignity as an indicator of development, which is novel. He also expressed hope that the program will be expanded in the future. 

PKSF Chairman Qazi Kholiquzzaman Ahmad said under the “Samriddhi” program, necessary services and support are provided at every stage of a person's life so that they can make the maximum use of the existing opportunities in view of their current capabilities. It will also help them to sustainably ensure the prosperity of themselves and society.  

ENRICH started working in 21 unions in 2010. The program has expanded over the years and covers millions of people now in 2023. 

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Bangladesh now a case study of economic uplift in world 

Renowned US online newspaper Policy Watcher lauded Bangladesh’s economic achievements saying that as one of the fastest growing economies, Bangladesh has now become a case study of economic development in the world. “On the basis of macro-economic stability, the economy of Bangladesh has grown 271 times in 50 years,” said the online newspaper in an article of its July 22 issue with headline ‘Is Bangladesh’s economy really moving fast?’ Policy Watcher carried the article in its editorial picks section and writer Emilia Fernandez, a security and political analyst with a particular focus on South Asian geopolitics, is a Ph.D. researcher at the University of Lucerne, Switzerland. In the article Emilia Fernandez said Bangladesh is ahead of India and Pakistan in many economic and social indicators. Bangladesh has now become a case study of economic development in the world, which few economists could have predicted, she added. When Bangladesh overtook Pakistan in GDP growth in 2006, many dismissed it as a fluke but since then, Bangladesh has surpassed Pakistan every year and Bangladesh is now one of the fastest growing economies in the world, she wrote. She said Bangladesh’s successful journey is a good example and in just two decades Bangladesh has overtaken Pakistan in important economic indicators and Bangladesh’s per capita GDP has grown by 500 percent in the last 20 years, which is two and a half times that of Pakistan. Bangladesh is ahead of India-Pakistan in economic freedom index, she said, added that according to a report by the Washington-based conservative think tank The Heritage Foundation, Bangladesh is ranked 120th with a score of 56.5 in 2021. India is at the 121st position with the same score as Bangladesh and Pakistan’s position is 152nd. She said Bangladesh is ahead of India-Pakistan in global peace index. In the latest Global Peace Index (GPI) published by the Institute for Economics and Peace (IEP), an international research institute based in Sydney, Australia, Bangladesh is ahead of India and Pakistan in South Asia, she added. The economic journey of independent Bangladesh started in 1972 and at that time India and Pakistan were ahead in every economic index.  “Today after 50 years India and Pakistan are lagging behind Bangladesh in almost every index. This is the great achievement of the independence. Human resource is considered the most important factor in the development of any country, so Bangladesh is ahead not only of Pakistan but also India in many fields,” she said in the write-up. She said Bangladesh has far ahead of Pakistan in terms of women education, health care, women empowerment, reduction of maternal and child mortality. She wrote that all the countries of the world are facing tough times in the global recession except few and this pressure is being felt strongly in Bangladesh as well. Bangladesh’s foreign exchange reserves were at rock bottom when the current government came to power and the economy was on the verge of collapsing under the charisma of the overqualified One-Eleven regime, she said, adding that since then, the history of Bangladesh is moving forward. Even during this Great Recession, Bangladesh’s economic growth has outstripped that of what is considered the world’s richest and best economic power, she wrote. Bangladesh’s strong steps forward has started the burning of the world. The manipulation of world leaders has started on how to stop this country, Emilia Fernandez said and added that however, the fact that Bangladesh cannot be defeated has been highlighted in the Goldman Sachs report as it is said that Bangladesh will be the 16th economy in the world by 2075. According to the forecast, she said the GDP of Bangladesh will increase to 6.3 trillion dollars in 2075. (1 trillion dollars equals 1 trillion dollars). According to that, the GDP of Bangladesh will be 6.3 trillion dollars. GDP in local currency will be Tk 686.7 lakh crore. This is Tk 636 lakh crore more than the government’s estimated GDP in the current financial year. The economy is predicted by the potential for training and skills for a country’s growing population, labor force and vast talent pool. Goldman Sachs’ GDP Outlook 2075 calls emerging economies promising. The economy of Bangladesh is moving fast. Due to the corona epidemic, the GDP growth has slowed down a bit, but the economy is picking up again. “If this trend continues, Bangladesh will be able to reach the desired destination in 2075. The economy of Bangladesh will surpass Saudi Arabia, Canada, Australia, Turkey, Italy, Malaysia and South Korea. The world will look at Bangladesh in amazement,” wrote Emilia Fernandez.

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