The New Nation - Internet Edition

Business Report

Bangladesh made considerable progress in terms of MCC (Millennium Challenge Corporation) scorecards released yesterday in the USA. Bangladesh met MCC requirements in eight of seventeen indicators weighted by the MCC. This is a net gain of two additional indicators over a year.

The US Government's Millennium Challenge Corporation (MCC) on Wednesday released the country-by-country indicator data measuring the policy performance of 86 developing countries that are candidate for grant assistance from MCC in fiscal year 2010.

As per 2010 MCC scorecards, Bangladesh gained impressively in the broader category of governance and economic freedom. According to the report, Bangladesh has moved upward in political rights from 33 per cent in 2009 to 60 per cent in 2010, an impressive progress by 27 per cent. Matching the progress in civil liberties Bangladesh made a dramatic progress from 46 per cent in 2009 to 53 per cent in 2010. In rule of law in 2009 Bangladesh received 57 per cent in contrast to 60 per cent in 2010. In 'Investing in People' category Bangladesh's Immunization Rates jumped from 70% in 2009 to 75% in 2010. In Natural Resource Management sub-category under the same category of Investing in People, Bangladesh obtained 41 per cent in 2010 against 33 per cent in 2009. Under the Economic Freedom category, Bangladesh made good progress in sub-category Trade Policy as she attained 8 per cent this year compared to last year achievement of 4 per cent. However, Bangladesh's achievement in the category of "investing in people" needs further boost for better outcome in the future.

The Millennium Challenge Corporation (MCC) is a US government corporation designed to work to reduce global poverty through the promotion of sustainable economic growth. Bangladesh could make itself an MCC eligible country if it could maintain upward movement of the criteria covered by the MCC report. From this year's report it appears that Bangladesh made considerable progress in a host of areas which is reflective of the return to democracy through a free, fair and credible election in December last year and also the steps taken by the government of Prime Minister Sheikh Hasina. Bangladesh Embassy in Washington, DC remained closely associated in disseminating information on Bangladesh's achievements in various areas ranging from politics to economics to investing in people.

Indeed, Bangladesh's return to democracy has consistently received support from US administration. On November 4, 2009 US President Barack Obama lauded the desire of the people of Bangladesh for democracy and assured US support to help Bangladesh extending her democratic roots.

President Barack Obama stated this during the presentation of credential ceremony of Akramul Qader, the newly appointed Bangladesh Ambassador to the USA. President Barack Obama affirmed that he "is proud to have supported this effort" for Bangladesh.