Remittance rises by 18pc in 2019

Inward remittance grew by nearly 18 per cent to a record $18.42 billion in the just-passed 2019 for a government effort to incentivise remitters. The figures jumped from $15.53 billion in 2018, according to the central bank’s latest statistics. Financial incentive along with the depreciating mode of taka against dollar has helped boost the influx in the last calendar year, according to bankers. The remittance inflow was estimated at $1.69 billion in December last, up by nearly $132 million from that of the previous month. In November 2019, the amount stood at $1.55 billion. It was $1.18 billion in November 2018. The upward trend in influx would continue in the coming months as the government has announced 2.0 per cent incentive for remittance receipts, he hoped. The government allocated Tk 30.60 billion in incentive in the budget for FY 20 to encourage migrant workers to send their money back home through legal channels. Meanwhile, taka depreciated by Tk 1.0 against dollar in the inter-bank forex market from January 02 to December 30. Greenback was quoted at Tk 84.90 each on December 30 against Tk 83.90 on January 02. The forex reserve rose to $32.75 billion on Wednesday from $32.57 billion on the previous working day.

Source: https://today.thefinancialexpress.com.bd/last-page/remittance-rises-by-18pc-in-2019-1577902109

Foreign aid rises by 9.0pc in Jul-Nov

Foreign aid commitment to Bangladesh dropped by 47 per cent to US$2.6 billion in the first five months of the current fiscal year compared to that of the same period last fiscal, officials said on Monday. However, foreign aid went up by 9.0 per cent to $1.62 billion during the July-November period of this fiscal year compared to that of the same period last fiscal, the Economic Relations Division (ERD) provisional data showed. According to the ERD, the Bangladesh government had signed US$2.6 billion worth of loan and grant deals with overseas development partners during this period for getting assistance for different development projects. During the same period last FY2019, multilateral and bilateral development partners made commitment of $3.83 billion worth of foreign aid. Meanwhile, development partners disbursed $1.63 billion worth of medium-and long-term (MLT) concessional aid during the July-November period of the current fiscal year. In the same period last FY2019, overseas development partners disbursed $1.49 billion worth of assistance.

Source: https://today.thefinancialexpress.com.bd/trade-market/foreign-aid-rises-by-90pc-in-jul-nov-1577891279

BEZA awards Licence to Hosendi EZ

Bangladesh Economic Zones Authority (BEZA) on Wednesday awarded licence to Hosendi Economic Zone, a concern of City Group. Once completed, the proposed private economic zone (EZ) is expected to generate 15,000 direct and indirect employment as well as draw investments worth of US$ 2.0 billion. The licence awarding ceremony was held at the BEZA headquarters in the city, presided over by BEZA Executive Chairman Paban Chowdhury. The private EZ will be an environmentally friendly industrial estate having adequate amount of green zone, open spaces, waste management facilities and effluent treatment plant (ETP). The statement also said that the BEZA is implementing 100 EZs on 30,000 hectares of land by 2030 to achieve the country’s development goals through employment generations and attracting foreign direct investment (FDI). The government agency has so far given 20 pre-qualification licences to establish private EZs. Of them, 10 EZs got the final licences.

Source: https://today.thefinancialexpress.com.bd/trade-market/beza-awards-licence-to-hosendi-ez-1577891342