Strategy for growth bangladesh

Bangladesh economy 2050

However, current policies and strategies to accelerate economic growth in Bangladesh are not always consistent with environmental protection. So, what could be the way forward? Loss of forest land, the degradation of land, sea and river water pollution, indiscriminate filling of water bodies for land acquisition, unsustainable use of ground water and fishery resources in ponds, lakes and rivers, and unsustainable ways of shrimp farming have collectively taken a huge toll on the degradation of the eco-system and consequent loss of bio-diversity. At the macro-level, indicative projections show that the combined effects of moderate climate change could cause an average GDP growth loss of about 1. But there is a long way to go. Bangladesh is one of the lowest ranked countries in the global Environmental Performance Index prepared by the Yale Centre for Environmental Law and Policy: in the report it ranks out of countries. In particular, past growth has been reliant on industrialisation that is not environmentally-conscious. Despite this array of policies and programmes, the overall environmental management performance in Bangladesh is weak owing to several binding constraints: First, the national sustainable development framework lacks strategic focus. Monitoring and evaluation of environmental degradation and effectiveness of redressing measures is absent or weak owing to a lack of adequate information and capacity. Finally, sectoral policies, programmes and institutions need to internalise the environmental considerations in developing proper sectoral objectives and strategies that are consistent with the targets and objectives of the macroeconomic framework. Direct spending by the coordinating ministry responsible for managing the national environmental programmes has been almost negligible 0. Any slowdown in growth will have negative consequences for the growth of employment and the progress with absolute poverty reduction in both forms: extreme and moderate. Another major institutional weakness is the absence of any meaningful role of local government institutions in environmental management.

For example, in the context of a neo-classical growth model, green growth strategy can help accelerate growth by increasing the availability of capital that substitutes for exhaustible natural resources e.

Bangladesh has also made good progress on the achievement of the MDGs, particularly in terms of reducing income poverty, getting nearly all boys and girls enrolled in primary school, and reducing child and maternal mortality.

Bangladesh is one of the lowest ranked countries in the global Environmental Performance Index prepared by the Yale Centre for Environmental Law and Policy: in the report it ranks out of countries. Incentive policies for environmental protection such as adoption of green tax on fossil fuel consumption are missing.

bangladesh economic growth

The National Strategy for Sustainable Development NSDS was adopted in Mayand contains an impressive list of environmental laws, regulations and plans that covers a wide range of environmental issues including forestry control, air pollution, water pollution, bio-diversity preservation and wetland management.

Similarly pricing policies for water, fertiliser and timber do not allow for environmental consideration. A first major strategic consideration in translating the vision of 'green' growth and corresponding targets for environmental management into actions is to demonstrate tangible ways in which the green growth strategy can help the growth agenda.

Bangladesh still has further growth potential.

In , Goldman Sachs listed Bangladesh in their 'Next 11' economies, highlighting its potential to become one of the world's largest economies in the 21st century. Bangladesh is one of the lowest ranked countries in the global Environmental Performance Index prepared by the Yale Centre for Environmental Law and Policy: in the report it ranks out of countries. A global ranking of per capita forest cover prepared by NationaMaster. Bangladesh has also made good progress on the achievement of the MDGs, particularly in terms of reducing income poverty, getting nearly all boys and girls enrolled in primary school, and reducing child and maternal mortality. Second, is the challenge to identify and adopt policies, institutions and programmes that internalise environment as an integral part of the growth process and not as an add-on to worry about as an international commitment or as a part of a donor commitment. So, what could be the way forward? In particular, past growth has been reliant on industrialisation that is not environmentally-conscious. The agenda for green growth for Bangladesh is undoubtedly daunting, but not impossible. The National Strategy for Sustainable Development NSDS was adopted in May , and contains an impressive list of environmental laws, regulations and plans that covers a wide range of environmental issues including forestry control, air pollution, water pollution, bio-diversity preservation and wetland management. Finally, sectoral policies, programmes and institutions need to internalise the environmental considerations in developing proper sectoral objectives and strategies that are consistent with the targets and objectives of the macroeconomic framework. Thirdly, at the heart of the weak performance of environmental protection is the shortage of financial resources.
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Bangladesh needs a 'green' growth strategy