Patel arrives in city next week to discuss DSC-IV
World Bank (WB) vice-president Praful C Patel is likely to arrive Dhaka next week to discuss Development Support Credit (DSC)-IV with the government.
"The (WB) vice-president will visit Bangladesh in the first week of January," said an official in World Bank, Dhaka office. But he gave no further details on Patel's visit.
However, sources in the finance ministry said the visit will be a part of negotiation between the government and the donor agency on the disbursement of DSC IV worth $150 million.
A WB review mission, led by Pazhayannur K Subramanian, visited the capital during the third week of the current month to discus the conditions set by the multilateral donor agency on the release of the fourth phase of the DSC.
The delegation had discussions with officials of the finance ministry, the Bangladesh Bank and the Economic Relations Division (ERD) to finalise the conditions.
During its meeting with finance ministry officials, the mission underscored the need for reforms in the management of public finance and government functionaries on an emergency basis, the sources added.
Patel, who will meet with Finance and Planning Minister M Saifur Rahman during his visit, may discuss necessary reforms in others areas like governance, public purchase and full-fledged functioning of the new anti-graft body.
The government urgently needs the release of funds under DSC for implementation of its annual development programme (ADP). It has already received $500 million in the first two phases of the credit programme