[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110936-en":3,"doc-seo-110936-105":29,"detail-sidebar-cat-0-en-105":90},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":4,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":13,"seo_description":14,"update_tm":27,"read_time":28},110936,1374391974585,"Genevieve","https://ap-avatar.wpscdn.com/davatar_276721f389ce27ea32af1340a28f341c",8,"Research & Report","Statement by H.E. Nirmala Sitharaman at the 104th Virtual Meeting of the Development Committee - October 15, 2021","Statement by H.E. Nirmala Sitharaman, Minister of Finance and Corporate Affairs of India, representing Bangladesh, Bhutan, India and Sri Lanka, delivered at the 104th virtual meeting of the Development Committee on October 15, 2021. The remarks review pandemic adaptation, vaccination progress, and steady economic recovery, while commending World Bank Group support for financing and COVID vaccine delivery. The statement details country-level recovery efforts, including Bangladesh’s national plans, stimulus packages, job protection, credit facilities, social security expansion and controlled liquidity, and highlights Bhutan’s containment, vaccination scale-up and remaining recovery challenges despite GDP contraction.","Public Disclosure Authorized Public Disclosure Authorized  \nDEVELOPMENT COMMITTEE  \n(Joint Ministerial Committee  \nof the  \nBoards of Governors ofthe Bank and the Fund  \non the  \nTransfer of Real Resources to Developing Countries)  \nONE HUNDRED AND FOURTH MEETING WASHINGTON, DC – OCTOBER 15, 2021  \nDC/S/2021-0041 October 15, 2021  \nStatement by  \nH.E. Nirmala Sitharaman Minister of Finance and Corporate Affairs  \nMinistry of Finance  \nIndia  \nRepresenting the Constituency of Bangladesh, Bhutan, India, and Sri Lanka  \nStatement by  \nH.E. Nirmala Sitharaman  \nMinister of Finance and Corporate Affairs  \nMinistry of Finance  \nIndia  \nRepresenting the Constituency of Bangladesh, Bhutan, India, and Sri Lanka 104th Meeting of the Development Committee  \nOctober 15, 2021  \nWashington, DC  \n1. We are all happy to participate in the hybrid DC meeting today. It is a sure sign of our resolute adaptation to the challenges posed by the pandemic. While the pandemic is still not over, increasing vaccination rates, newer ways of working and our collective determination to not let our guards down make us hopeful about our ongoing work to minimize its adverse health and economic impacts.  \n2. Our economies are also showing signs of steady recovery. Even though the second wave was quite severe in our constituency, we were able to minimize the economic disruptions through limited and localized lockdowns. With fast increase in vaccination rates, we hope to reach a path of robust recovery in the coming months.  \n3. We are happy at the strong and timely response of the World Bank Group through delivery of $160 billion in financial support to more than 100 countries. We also commend the Bank for approving vaccine projects in more than 50 countries to enable purchase of more than 289 million doses ofCOVID vaccines. We urge the Bank to continue its support for enhancing vaccine manufacturing in developing countries and also for mitigating the shrinking fiscal space of both LICs and MICs in the current financial year and beyond.  \n4. With these remarks let me highlight some important components of the economic recovery efforts in each of our constituency countries:  \nBangladesh  \n5. Bangladesh adopted the National Preparedness and Response Plan for COVID-19 in March 2020. To overcome its potential adverse effects on the economy, the government formulated an overall program with short, medium, and long-term targets. This program had four main strategic aspects. The first strategy was to increase government spending. In this, priority was given to creating jobs and discouraging luxury spending. The second strategy was to provide low-interest credit facilities through the banking system to industries and business enterprises to revive economic activities and increase the competitiveness of entrepreneurs at home and abroad. The third strategy was to increase the scope of the government's social security programs to protect the ultra-poor, the low income groups as well asthe people engaged in informal sectors that suddenly become unemployed. The fourth strategy was to increase money supply in the market. However, utmost caution was exercised so that the negative effects of inflation could be controlled.  \n6. The government also undertook a comprehensive stimulus and economic recovery program that has gradually been expanded to 28 packages to the tune of Tk 1,876,790 million (USD 22.08 billion) to facilitate the implementation of these strategies.  \n7. The main objective of the government is to provide financial assistance and support to various enterprises in the industrial and services sectors, farmers and workers in the export-oriented industries, make direct cash transfers to targeted poor people, promote agricultural production, ensure food security, facilitate employment creation, increase the coverage of social safety nets, and provide interest subsidy to ensure that Bangladesh makes a quick recovery from the economic losses sustained during the pandemi","cbCaii0zroE7PdnJ","https://ap.wps.com/l/cbCaii0zroE7PdnJ","pdf",234206,1,10,"English","en",105,"# Statement and opening remarks\n## Pandemic adaptation and economic recovery overview\n# World Bank Group support and vaccine financing\n# Country recovery efforts\n## Bangladesh: plans, stimulus packages and macro indicators\n## Bhutan: containment, vaccination, resilience and growth outlook","[{\"question\":\"What does the statement emphasize about adaptation to the pandemic?\",\"answer\":\"It highlights resolute adaptation, rising vaccination rates, new ways of working, and determination to reduce health and economic impacts while the pandemic is ongoing.\"},{\"question\":\"How does the statement describe World Bank Group support?\",\"answer\":\"It commends delivery of $160 billion in financial support to more than 100 countries and approval of vaccine projects enabling procurement of over 289 million COVID vaccine doses in more than 50 countries.\"},{\"question\":\"What key economic recovery measures are discussed for Bangladesh?\",\"answer\":\"Bangladesh’s approach includes job-focused spending, low-interest credit to businesses, expansion of social security coverage, controlled increases in money supply, and stimulus expansion into 28 packages to support targeted enterprises and quick recovery.\"}]",1784487791,25,{"code":4,"msg":30,"data":31},"ok",{"site_id":24,"language":23,"slug":32,"title":13,"keywords":33,"description":14,"schema_data":34,"social_meta":85,"head_meta":87,"extra_data":89,"updated_unix":27},"statement-by-he-nirmala-sitharaman-at-the-104th-virtual-meeting-of-the-development-committee-october-15-2021","",{"@graph":35,"@context":84},[36,53,67],{"@type":37,"itemListElement":38},"BreadcrumbList",[39,43,47,50],{"item":40,"name":41,"@type":42,"position":20},"https://docshare.wps.com","Home","ListItem",{"item":44,"name":45,"@type":42,"position":46},"https://docshare.wps.com/document/","Document",2,{"item":48,"name":12,"@type":42,"position":49},"https://docshare.wps.com/document/research-report/",3,{"item":51,"name":13,"@type":42,"position":52},"https://docshare.wps.com/document/statement-by-he-nirmala-sitharaman-at-the-104th-virtual-meeting-of-the-development-committee-october-15-2021/110936/",4,{"url":51,"name":13,"@type":54,"author":55,"headline":13,"publisher":57,"fileFormat":60,"inLanguage":23,"description":14,"dateModified":61,"datePublished":61,"encodingFormat":60,"isAccessibleForFree":62,"interactionStatistic":63},"DigitalDocument",{"name":9,"@type":56},"Person",{"url":40,"name":58,"@type":59},"DocShare","Organization","application/pdf","2026-07-19",true,{"@type":64,"interactionType":65,"userInteractionCount":4},"InteractionCounter",{"@type":66},"ViewAction",{"@type":68,"mainEntity":69},"FAQPage",[70,76,80],{"name":71,"@type":72,"acceptedAnswer":73},"What does the statement emphasize about adaptation to the pandemic?","Question",{"text":74,"@type":75},"It highlights resolute adaptation, rising vaccination rates, new ways of working, and determination to reduce health and economic impacts while the pandemic is ongoing.","Answer",{"name":77,"@type":72,"acceptedAnswer":78},"How does the statement describe World Bank Group support?",{"text":79,"@type":75},"It commends delivery of $160 billion in financial support to more than 100 countries and approval of vaccine projects enabling procurement of over 289 million COVID vaccine doses in more than 50 countries.",{"name":81,"@type":72,"acceptedAnswer":82},"What key economic recovery measures are discussed for Bangladesh?",{"text":83,"@type":75},"Bangladesh’s approach includes job-focused spending, low-interest credit to businesses, expansion of social security coverage, controlled increases in money supply, and stimulus expansion into 28 packages to support targeted enterprises and quick recovery.","https://schema.org",{"og:url":51,"og:type":86,"og:title":13,"og:site_name":58,"og:description":14},"article",{"robots":88,"canonical":51},"index,follow",{"doc_id":7,"site_id":24},{"code":4,"msg":5,"data":91},[92,96,100,104,109,114,119,122,127,130,133],{"id":20,"doc_module":4,"doc_module_name":45,"category_name":93,"show_sort_weight":94,"slug":95},"Story & Novel",90,"story-novel",{"id":46,"doc_module":4,"doc_module_name":45,"category_name":97,"show_sort_weight":98,"slug":99},"Literature",80,"literature",{"id":52,"doc_module":4,"doc_module_name":45,"category_name":101,"show_sort_weight":102,"slug":103},"Exam",70,"exam",{"id":105,"doc_module":4,"doc_module_name":45,"category_name":106,"show_sort_weight":107,"slug":108},5,"Comic",60,"comic",{"id":110,"doc_module":4,"doc_module_name":45,"category_name":111,"show_sort_weight":112,"slug":113},6,"Technology",50,"technology",{"id":115,"doc_module":4,"doc_module_name":45,"category_name":116,"show_sort_weight":117,"slug":118},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":45,"category_name":12,"show_sort_weight":120,"slug":121},30,"research-report",{"id":123,"doc_module":4,"doc_module_name":45,"category_name":124,"show_sort_weight":125,"slug":126},9,"Religion & Spirituality",20,"religion-spirituality",{"id":125,"doc_module":4,"doc_module_name":45,"category_name":128,"show_sort_weight":125,"slug":129},"World Cup","world-cup",{"id":21,"doc_module":4,"doc_module_name":45,"category_name":131,"show_sort_weight":21,"slug":132},"Lifestyle","lifestyle",{"id":134,"doc_module":4,"doc_module_name":45,"category_name":135,"show_sort_weight":105,"slug":136},19,"General","general"]