Austria explores potential areas in Bangladesh to give soft loans

Bangladesh Sangbad Sangstha . Dhaka | Published: 23:52, Feb 23,2020


The Austrian government is working to provide concessional loans to Bangladesh in health, education and infrastructure as the country concentrates on development of bridges, roads, rail and other mega projects and also exploring full potentials of other areas in Bangladesh.

The information was revealed on Sunday at the Bangladesh-Austria business meeting as part of a four-day visit of Austrian business delegation in the city that ended on Thursday, said a press release.

During the meeting, commercial counsellor of Austrian embassy in New Delhi Robert Luck said that the Austrian companies were very enthusiastic about the dynamics of Bangladesh and were looking forward to make investments here.

‘We are discussing with the Bangladesh government,’ Robert said, adding, ‘Full potentials have not yet been explored, and this fund will be available for Bangladesh.’

Robert said that Bangladesh’s economic progress was tremendous and the country had been maintaining that for the last couple of years.

Austria is trying its best for working together to assist Bangladesh government in building up infrastructures, he added.

He said that they were giving emphasis on education and skills development and discussing to find the areas of skills where they could work with Bangladesh.

‘Skills is a vital issue that needs in every field of development and considering that, investment in skills is equally important,’ he mentioned.

‘For further development of infrastructure and heading towards higher growth, it also needs to invest in skills,’ he categorically mentioned.

Welcoming Austrian companies in Dhaka, Trustee Board of Business Initiative Leading Development chairman Abul Kasem Khan said that the Bangladesh economy, standing on an 8 per cent plus GDP growth, was looking forward to become larger than Vietnam, South Africa and the Netherlands by 2030 and eyeing to be the 23rd by 2050, riding on its prospects of achieving double digit growth targets.

He said that the country remained one of the fastest growing nations in the world and over the last three decades, it had made remarkable progress in many areas, including trade and industry.

Focusing on Bangladesh’s development activities, he said, Bangladesh required an estimated $320b by 2030 for infrastructure development alone, as the country aspired to reach higher growth trajectories.

Want stories like this in your inbox?

Sign up to exclusive daily email