[{"bbox": [127, 151, 1164, 260], "category": "List-item", "text": "* ✓ The current Central Grievance Redress System enables citizens to file grievances online against 15 major social protection programmes from any upazila (sub-district). The system also records the location of each grievance. Despite this progress, the GoB needs to involve field-level officials and Civil Society Organizations (CSOs) to raise awareness about this tool and bridge the digital literacy gap for wider use."}, {"bbox": [135, 260, 604, 286], "category": "Text", "text": "Recent progress in programmatic reforms includes:"}, {"bbox": [127, 285, 1164, 499], "category": "List-item", "text": "* ✓ On the Mother and Child Benefit Programme (MCBP), the GoB expanded the coverage from 1.045 million beneficiaries in FY 2022 to 1.254 million in FY 2023. In June 2023, the MoWCA established data interoperability between the MCBP Management Information System (MIS), the two health system MISs, and the Birth and Death Registration Information System (BDRIS). This integration allows for data exchange on pregnancies, births, check-ups, and nutrition status, verifying beneficiary identity via the National Identification Number. Despite these advancements, data exchange is limited due to lack of coordination between MoWCA and health officials. More efforts are needed to improve service delivery and integrate shock-responsive elements into the programme, building on the results of a pilot funded by ECHO."}, {"bbox": [127, 498, 1164, 710], "category": "List-item", "text": "* ✓ The social protection programme for unemployed and distressed workers represents the first GoB social assistance scheme for unemployed workers in the export-oriented sector. It was established during the Covid-19 pandemic in a record-time and remains operational, though it reaches a limited number of workers. The GoB's reliance on the Employers' database for workers' data verification highlighted the need for a government-owned digital infrastructure. To address this, DIFE began developing an interim workers' database, which, by June 2023, included 1,500 factories' workers in the RMG and leather sectors. These NID-verified records will be transferred to the Labour Management Information System, when the system will be launched, to facilitate better social benefits' delivery."}, {"bbox": [127, 709, 1164, 817], "category": "List-item", "text": "* ✓ On the contributory side, reforms include the efficient implementation of the Employment Injury Scheme (EIS) pilot (since June 2022), and the launch of the Universal Pension Scheme¹⁰ (since July 2023). These initiatives have created momentum for further reforms, such as developing an unemployment insurance scheme and recognizing the need for a National Social Insurance Strategy."}, {"bbox": [96, 816, 1164, 923], "category": "Text", "text": "The NSSS, with its focus on socially excluded groups, remains relevant, amidst economic disruptions, inflation, and energy crises. The policy's credibility is evidenced by the progress in implementing reforms, supported by the EU and other DPs. **Therefore, in order to consolidate progress on this programmatic reform, it is essential the EU continues supporting the implementation of the policy.**"}, {"bbox": [85, 934, 375, 962], "category": "Section-header", "text": "### 2.3.2 Macroeconomic Policy"}, {"bbox": [96, 977, 1135, 1164], "category": "Text", "text": "At the time of the Budget FY24 presentation in Parliament, in June 2023, the Government projected real GDP growth for FY24 at 7.5%. Meanwhile it is evident that it will not even exceed 6%. The Bangladesh Bureau of Statistics, that only recently started publishing quarterly GDP-figures, reports 5.8% for the third quarter (y-o-y). The service sector, which encompasses trade, transport, hotels, Information Technology and financial activities, drove the overall growth. Growth of the industrial production was the lowest since FY20. In its April 2024 *Bangladesh Development Update*, the World Bank projected GDP-growth at 5.6% for FY24 and only 5.7% for FY25. Inflation is still high at almost 10%."}, {"bbox": [96, 1189, 1134, 1271], "category": "Text", "text": "In May 2024, the IMF performed its second Review. The press release regarding this review, of 8 May 2024 (find it here), mentions that there is a staff-level agreement that the third disbursement will take place (full report still to be published after Board approval, so expected soon)."}, {"bbox": [96, 1295, 1134, 1403], "category": "Text", "text": "The loan that the IMF Board approved end of January 2023 amounts to SDR 3.5 billion (i.e. approximately USD 4.7 billion) and consists of seven disbursements over 3.5 years. On the basis of the first Review, the IMF disbursed the second tranche, consisting of USD 468.3 million from the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) and USD 221.5 million from the Resilience and Sustainability Facility in December 2023."}, {"bbox": [96, 1428, 1134, 1509], "category": "Text", "text": "The third disbursement will be higher than initially foreseen, due to the dire net international reserves position. The criterion, i.e. the floor on reserves, which was not only missed and waived in June 2023 (during the first Review), was also be missed in December 2023 and waived (during the second Review)."}, {"bbox": [85, 1572, 1145, 1648], "category": "Footnote", "text": "¹⁰ This scheme aims to cover the entire population, ensuring that everyone, regardless of their economic status or employment type, has access to a pension upon reaching the eligible age. As per GoB data, till December 2023, 16,600 people have registered in the public pension scheme."}, {"bbox": [1038, 1681, 1145, 1707], "category": "Page-footer", "text": "Page 9 of 32"}]