Vice-President of the European Investment Bank (EIB) Nicola Beer has said this is a “crucial moment” for Bangladesh citizens to have the “footprint of change” to go forward for a future which is really sustainable and future-proof, especially for the young people in Bangladesh to open up opportunities.
“We had very good discussions and I'm very sure that the reforms are going in the right direction,” she told UNB after visiting Gandharbpur Water Treatment Plant on Thursday, which is seen as a critical project to increase the security of water supply and enable climate adaptation for Dhaka.
Ambassador and Head of Delegation of the European Union to Bangladesh Michael Miller, among others, was present.
It aims to provide a new surface water supply to meet an increasing water demand from the growing population in Dhaka and enable the reduction of the current over-extraction of groundwater.
Referring to the interim government’s reforms agenda, Vice President Beer said if they really succeed in getting these reforms in direction as planned, it will be something which can reunite the whole society in Bangladesh nevertheless which parties win the next and the subsequent coming elections.
She said they saw a change and she thinks it is now really going in a very structured and organised direction. Beer said its reforming in a structured way is very important that it can last because if not, it will end up in chaos.
“And here we see that it is really going in a well-defined direction that it can deliver for the citizens,” said the EIB Vice President.
We back interim govt, reform agenda: EIB VP tells Dr Yunus
Vice President Beer on Wednesday met Chief Adviser Prof Muhammad Yunus and assured the interim government of its help in carrying out vital reforms it has undertaken.
“We have come in a very challenging time; we back the interim government and its reform agenda,” she conveyed Dr Yunus.
While responding to a question, Beer said they really want to back and support this choice of Bangladesh people to go for a better future.
She said it is important to speed up the investment and it is also important that the investment delivers for people with concrete results.
The key point that they discussed with Dr Yunus is the future potential cooperation with Bangladesh, investment in sound infrastructure, especially when it comes to sustainable energy and sustainable water supply and prospect of how to preserve the nature of Bangladesh.
BPCCI President calls for stronger Bangladesh-Philippines economic ties
Highlighting the importance of partnership and cooperation with Bangladesh, Beer said the project (Gandharbpur Water Treatment Plant) will last longer than 25-50 years and it will change the lives of people and this change will not be reversed. “This is what we try to do.”
“We invested here because we have a strong partnership with Bangladesh. To have clear drinking water is a very important point for the population, especially as it is rapidly growing in Dhaka city. And so we want to help the people,” she said.
Beer said they want to foster their engagement with Bangladesh and it could be possible that they would double the commitment, maybe even in the year 2025 to nearly 2 billion euros.
“We are just discussing with the interim government which are the sectors of priority. But what is underlying is the idea to have a better infrastructure,” Beer said.
The EIB has been cooperating with Bangladesh for more than twenty years with the first operation signed in 2000. Bangladesh is, after India and China, EIB’s third largest borrower in Asia.
EIB’s portfolio in Bangladesh is diversified (energy, water, transport, health), and consists of six sovereign loans with a total signed exposure of nearly EUR 1 billion.
When women thrive, entire communities, economies benefit: US
For the households and also for the enterprises, she said, this will bring prosperity to the people and this is what is in the interest of the European Union and the financial arm – the European Investment Bank.
“Water is life and when it comes together with energy supply and a sustainable mobility development - then you have the best base,” said the EIB Vice President.
She laid emphasis on engaging young people and said, “Now please stay engaged because Bangladesh needs your energy, your creativity and that you bring it in the next stages of future.”
Asked about her impression as she will be heading towards India wrapping up her Bangladesh visit, Beer said, “The most impressive thing for me was really the will of the Bangladesh people.”
The EIB is progressing the requested water sector top-up financings for Saidabad Raw Water Conveyor and Dhaka Environmentally Sustainable Water Supply. EIB received Board approval for Saidabad Raw Water Conveyor on 11 December 2024 and expects to receive it for Dhaka Environmentally Sustainable Water Supply on 5 February 2025.
EIB future engagement is focusing on transition to green mobility, national and regional connectivity through railways as well as water and sanitation.
EIB Vice-President Beer, who arrived on Tuesday, is scheduled to wrap up her three-day visit on Thursday evening and will return to Brussels through her one-day visit to India.
The EIB, owned by the 27 EU member states, is the world's largest multilateral financial institution and serves as the European Union's investment bank.