News Mania Desk / Piyal Chatterjee / 25th December 2024
In the recent decade or so, there have been several fresh stories about Bangladesh’s progress and how it has become one of Asia’s fastest-growing economies. Bangladesh now ranks 34th in the world, with a GDP of $437 billion. Insider Monkey predicts that Bangladesh would be the tenth largest economy and India the second largest by 2075. The research also states that Bangladesh’s GDP will be $5.09 trillion. Here’s all the details regrading how Bangladesh which is begging for money from IMF may overtake India in the next decades.
Maintaining the trend, the International Monetary Fund (IMF) forecasts that by 2025, Bangladesh’s economy will grow by 3.8 percent, marking a significant decline from their earlier October estimate of 4.5 percent. Insider Monkey projects that within the next fifty years, Bangladesh will rank among the top ten global economies, including India. They forecast that this South Asian country will account for approximately 1.57 percent of the global GDP.
Importantly, readers need to recognize that these reports originate from the era when Bangladesh was governed by an elected administration, but circumstances have shifted significantly. Discussing the loan, Bangladesh has borrowed 4.7 billion dollars from the IMF, and if the nation utilizes these funds effectively, it could potentially challenge India’s growth narrative in the forthcoming decades. On Friday, a World Bank statement announced that the Board of Executive Directors approved three operations worth USD 1.16 billion aimed at enhancing health services, improving water and sanitation facilities, and promoting greener, climate-resilient development in Bangladesh.
Bangladesh is among the most vulnerable countries to climate change and faces the greatest pollution challenges. Improving climate resilience in every sector and tackling the pollution scourge has become a critical development priority,” said Abdoulaye Seck, World Bank Country Director for Bangladesh and Bhutan.
“These new financing will bring to the people of Bangladesh essential services such as health and water and sanitation while laying the foundation for clean, climate resilient and sustainable development.”
The Second Bangladesh Green and Climate Resilient Development Credit worth USD 500 million will support reforms to help the country’s transition to green and climate-resilient development.
