ELEVATION TO LOWER MIDDLE-INCOME COUNTRY

Bank, non-bank officials asked to join March 22 celebration

Staff Correspondent | Published: 00:15, Mar 14,2018 | Updated: 00:37, Mar 14,2018

 
 

The financial institutions division has asked the Bangladesh Bank, state-owned commercial and specialised banks, and non-bank entities to join a procession on March 22 for celebrating the country’s elevation to a lower middle-income country.
The division issued the directive, signed by its secretary Eunusur Rahman, on Sunday as the government expected that the United Nation would come up with the announcement on March 15 or16.
The economic relations division, working as the coordinator of the celebration, sought cooperation from the financial
institutions division in organising the procession from Motijheel to Shishu Academy.
The economic relations division identified eight more areas including Agargaon, Farmgate, Satrasta and Zero Point in Dhaka for arranging rallies and processions by ministries, divisions and bodies under them.
According to the division officials, participants could join the procession, to be held at 4:00pm, with horse-drawn carts, but no motor vehicle.
Banks and bodies under the financial institutions division located outside the capital were asked to arrange rally and procession on a convenient day between March 20 and March 25.
In January, the economic relations division apprised the cabinet about the country’s progress on three areas required for a country to be promoted to a lower middle-income nation from the status of the least developed one.
According to the economic relations division, the country’s per capita income was $1,271 as per the Bangladesh Bureau of Statistics which was ahead the UN standard of $1230 for a lower middle-income economy.
The country’s position on human asset index is 72.8 per cent against the standard of 66 per cent and the economic
vulnerability index is 25 per cent against the required below 32 per cent, said the economic relations division. 

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