Finance Minister A H M Mustafa Kamal has urged to the officials of the Economic Relations Division (ERD) to ensure that the terms and conditions of foreign debt agreement are in favor of Bangladesh.
He said this at a meeting with ERD officials held at NEC conference room at Sher-e-Bangla Nagar in the city on Wednesday.
The minister asked officials to negotiate strongly with various international and foreign lending agencies so that Bangladesh’s interests are upheld. The terms of the loan agreement will be kept in favour of Bangladesh.
ERD secretary Monowar Ahmed briefed about current working activities of the division.
Finance minister said Bangladesh has not yet delayed in making payment of foreign loan installment even for one hour. Bangladesh’s foreign debt-GDP ratio is only 13.2 percent, where the risk level is 40 percent. So, ERD will have to highlight the potentials of Bangladesh’s loan capability at the global level.
Calling the ERD officials to keep the position of loan worthiness of the country, he said, keep your loan capability. So, future foreign funding will be easier for future development of the country’s infrastructure. Mustafa Kamal directed the concerned to provide loan assistance to small projects in relation to development of the rural life. At the same time, he gave necessary instructions to the officials for making ERD activities more dynamic.