'Donors' support destructive for Bangladesh'

Speakers at a press conference yesterday said loans and grants of the World Bank (WB), Asian Development Bank (ADB) and other international financial institutions are destructive for Bangladesh as the donor agencies take away more kickbacks than what they have provided as aid or loans.

Only 25 percent of the foreign aid and loans provided to the country go to the target group while the rest of them are attained for the auxiliary and support services, they added.

The speakers said this at the press conference organised by VOICE, a rights-based research group, and Aid Accountability Group, a civil society alliance, at the National Press Club in the city.

They called on the government to reject destructive aid and formulate an independent economic policy instead of PRSP and to make all loan agreements public ensuring transparency and accountability.

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