Japan reviewing plan to support BD's LDC graduation, 9th FYP
General Economic Division is currently formulating the Ninth Five-Year Plan
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Japan is reviewing the Country Assistance Plan for Bangladesh, taking into account the nation's upcoming graduation from Least Developed Country status and its Ninth Five-Year Plan, Japanese Ambassador to Bangladesh Iwama Kiminori said.
"We are considering Bangladesh's needs against its development plan and Japan's assistance policy," he said after a meeting with Planning Minister Major General (Retired) Abdus Salam at his office on Wednesday.
The General Economic Division (GED) is currently formulating the Ninth Five-Year Plan (FYP), titled 'Sustainable and Equitable Growth for Higher Middle Income'.
This plan, involving secretaries from over 15 ministries, aims to transform Bangladesh into a developed nation by 2041. The Eighth FYP, covering 2020-2025, was the first in a series of four designed to implement the government's Vision 2041.
After the meeting, the ambassador told journalists that various topics, including Bangladesh's future development plans, were discussed.
"Bangladesh is working on its Ninth Five-Year Plan. In this ambitious plan, Japan will provide financing in line with Japan's policies and Bangladesh's needs," he added.
Japan is revising its Country Assistance Plan, with specific areas of support to be determined through further discussions with Bangladesh. Japan's assistance will prioritise areas aligned with the Bangladeshi government's priorities, he added.
Planning Minister Abdus Salam called for Japanese collaboration to support the second phase of the Public Investment Management System to improve the efficiency of government spending.
Mr Salam told journalists that the ambassador visited to congratulate him and that Bangladesh has requested Japan's continued cooperation in capacity building.
"Specifically, support is sought for the second stage of the Public Investment Management System, with 40 projects already implemented with Japanese funding," said the minister.
Discussions also focused on enhancing Bangladesh's skills capacity, with Japan committed to supporting the implementation of both the current five-year plan and future development plans, he said.
While responding to a media query, Minister Salam said, "Japan is always with us. They have promised to stand by Bangladesh in various developments in the future".