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8pc growth possible if graft, political feuds go

Says WB chief Wolfowitz

STAFF CORESPONDENT
Bangladesh can achieve even an 8 percent GDP growth a year instead of the present 5 percent, if corruption and confrontational political culture are contained, observed visiting World Bank (WB) President Paul Wolfowitz yesterday.
"Five percent is really not good enough and this country can do better. I am absolutely convinced that you have the same great human resources here that your big neighbour in the west has," Wolfowitz told reporters after a meeting with Finance and Planning Minister Saifur Rahman.
"You have wonderful, talented people. But the problem of corruption is a big drag on your economy," he added.
"Big power projects unfortunately are one of the principal targets for corruption," he cited as an example. This sector needs reform, he pointed out, adding, "We are not imposing harsh conditions... We are just saying we invest in your country and we need some assurance that the investment would go to help the poor people."
Wolfowitz said the WB's future aid for projects including those in the power sector would depend on reducing corruption, because "we cannot commit money unless we are convinced it is going to be spent in the right way."
The WB chief named the 'politics of confrontation' as another major hindrance to the country's development. [If these two major obstacles are removed] he said, "This country probably could be doing 8 percent growth when you have a 5 percent growth."
Wolfwitz arrived in Dhaka at 11:00am yesterday as part of his first South Asia tour. Saifur received him at Zia International Airport, from where they went directly to the meeting at Saifur's planning ministry office.
Saifur agreed with Wolfwitz about confrontational politics hindering development, saying, "Confrontational politics and hostility among the political parties are spoiling our potential to do better." "But I don't know how this can be resolved," was what he told the WB president, as he later revealed to reporters.
The source of this confrontation lies in 1971, he said, since when the nation has been divided into two camps -- the so-called pro-liberation and antiliberation forces. "It is very difficult to reconcile these feuding sides," Saifur remarked.
The minister said to bring it to an end the top leaders of the two major parties will have to sort things out. "We are trying to convince them that atleast for the sake of the country, confrontations should be scaled down," he said, "I am encouraging my top leader and Awami League leaders will have to do the same."
On corruption, the minister said the government has undertaken reform programmes in every sector and once the reforms are made, the scale of corruption will automatically come down.
Wolfwitz in this regard said, "I recognise it is easier to identify problems than to identify the solutions. But I think it is very very important to try to do so." Because, if these issues were addressed, he said, billions of dollars would be added to the GDP and millions of people would come out of the clutch of poverty.
The WB chief however praised Bangladesh's performance in health and education and also appreciated Grameen Bank's activities, which he said, "represents the energy of the people of this country."
He also had a good word to put in favour of the country's press: "I heard you have a very vibrant press. I believe a free press is very important for development process."
Though the WB president was initially slated to stay in Dhaka for two days, he cut short his visit by one, cancelling a number of scheduled programmes. After the meeting with the finance minister, he called upon the prime minister and theleader of the opposition in parliament.
Wolfwitz left the city yesterday evening by a private aircraft.
Security was tightened at the airport while the entire stretch of the road from the airport to the planning ministry was emptied and police personnel stood on either side of the road under a foolproof security blanket for the high-profile guest's visit.
The visit came just four days after about 500 bombs exploded across the country, raising an intense security alarm. Wolfwitz however refused to be drawn into this issue. He said, "We are a development organisation. We don't get into security issues. It is certainly true the more secure a country is the more stable it is and the more it will grow economically."
Before his departure, at a short press briefing at the airport, he said the WB will continue assisting Bangladesh in its endeavours to reduce poverty.