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75% foreign aid in 3 decades “looted” by people outside target group |
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February 11, 2001
Dhaka-- (UNB) – How much foreign aid does Bangladesh really need? In trying to find the answer economists at a seminar here yesterday revealed that 75 percent of the foreign aid received by the country in last three decades was “looted” by the people outside the target group. Of the total aid of Tk 180,000 crore received by Bangladesh after independence, they said, foreign equipment suppliers, agents and consultants took away Tk 45,000 crore or 25 percent. Bureaucrats, politicians, commission agents, consultants and contractors inside the country shared Tk 54,000 crore or 30 percent while 20 percent went to higher income group people in urban and rural areas. Bangladesh Economic Association (BEA) organised the seminar at the Planning and Development Academy auditorium with BEA president Dr Mainul Islam in the chair. The Among the participants were Finance Minister SAMS Kibria, former Finance Minister Saiduzzaman, economist Prof Anisur Rahman, former Finance Minister Dr Wahidul Huq. Prof Abul Barkat of Dhaka University, Dr Omar Haider Chowdhury, Director of Bangladesh Institute of Development Studies, and Jamshed Uz Zaman, M Abul Quasem and Abdus Samad Sarker presented three research studies at the seminar. Finance Minister Kibria pointed out that there were conditionalities attached to foreign aid or loan but those are not always bad. “If the conditionalities are acceptable in essential cases, then foreign aid should be taken,” he said. He said the donor countries always try to preserve their interest in giving aid. “If the government is a representative and democratic one, it can go ahead in fulfilling its objectives,” he said adding that a “weak government” is bound to accept all the conditionalities of the donors. There is still necessity of foreign aid but a balanced policy should be taken in this regard, he said. “One should not be too much sensitive about foreign aid.” It is possible to decrease dependence on foreign aid if development is accelerated in economy, export and foreign exchange, he said. |