Bangladesh recovering from economic crisis: finance minister

Bangladesh is slowly recovering from the ongoing economic crisis, said Finance Minister Abul Hassan Mahmood Ali today.

"Many people say Bangladesh has become bankrupt, but a big country like ours won't become bankrupt as we are working to resolve the crisis," he said.

His assurance came following meetings with Takeo Konishi, director general of Asian Development Bank (ADB), Arnoud Hameleers, country director of the International Fund for Agricultural Development (IFAD), and Japanese ambassador to Bangladesh Iwama Kiminori.

The ADB is one of Bangladesh's biggest development partners and discussions took place regarding ongoing and future co-operation, said the finance minister.

"We have a crisis but the situation is improving. There's a perception that the new cabinet will fix everything overnight…we are working on solutions," he said.

The IFAD has long been a partner in Bangladesh's development and has invested $3 billion till date, said Hameleers, adding that it was currently running 7 projects here with a portfolio of $2.1 billion.

Kiminori highlighted Japan's contribution to infrastructure development in Bangladesh.

"We would like to see more Japanese companies investing in Bangladesh and both sides should put in more effort to offer incentives to foreign investors. If the difficulties reduce, then investors will commit themselves more," he said.

Japanese companies are eager to invest in the country, said the finance minister. He is set to leave for Italy today to attend an IFAD meeting and will sit with Japanese investors once he returns.