Aid for war-torn economy sought | The Daily Star
12:00 AM, September 28, 2020 / LAST MODIFIED: 12:00 AM, September 28, 2020

First year of Bangladesh Bangabandhu’s nation-building challenges

Aid for war-torn economy sought

September 28, 1972

BANGABANDHU REVIEWS TCB'S ACTIVITIES

Bangladesh Prime Minister Bangabandhu Sheikh Mujibur Rahman today holds a meeting of senior officials of Trading Corporation Bangladesh (TCB) at the Gono Bhaban and reviews the activities of the government body. They discuss the problems faced by TCB in importing various essentials goods. 

POOR NATIONS NEED SOFT LOAN: TAJUDDIN

The new nation of Bangladesh makes its debut at the annual meeting of the International Monetary Fund and the World Bank today with a plea for aid to build its war-torn economy and warning that the widening gap between rich and poor nations is a threat to world peace and stability.

Tajuddin Ahmed, Bangladesh minister for finance and planning, accuses richer nations of protectionism, of falling short in assistance goals, and of giving aid with conditions. Foreign aid continues to be tied to projects. Some countries lend on such hard terms and for such short periods that their loans are virtually indistinguishable from suppliers' credit granted by individual exporters, he adds. Quoting the recent floating of the pound sterling, he further says that rich nations' balance of payments problems are seriously affecting the future of poor nations.

Tajuddin says in the meeting that Bangladesh, one of the world's poorest nations, is seeking aid to build a socialist economy within a democratic framework.

'BANGLADESH FULLY QUALIFIED FOR UN MEMBERSHIP'

Australian Foreign Minister Sir Nigel Bowen says today, "We believe that Bangladesh is fully qualified for membership of the United Nations."

Participating in the debate of the General Assembly of the United Nations, the Australian foreign minister says they remain hopeful that the Security Council, upon recommendation of the matter might recommend in favour of Bangladesh's application and that the assembly would as a result still be able to admit this new state as full members to the world body during its present session. 

SOURCES: September 29, 1972 issues of Bangladesh Observer, Dainik Bangla and Dainik Ittefaq. 

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