The WB president, at a meeting here with visiting Finance and Planning Minister M Saifur Rahman, expressed his willingness to support the development initiatives of the Bangladesh government in various sectors, a foreign ministry press release said.

He welcomed different reform and development measures of Bangladesh to attain macro-economic stability and revitalise the economy.

During the meeting, the finance minister focused on the successes achieved over the last 20 months by the present government in socio-economic sectors.

He informed the WB president that the present government introduced a bill in parliament to establish an independent anti-corruption commission which would help improve governance.

Saifur Rahman told Wolfensohn that the country would be able to fulfil the target of revenue earnings set for the current fiscal.

WB Vice-President for South Asia Praful C Patel and Country Director in Dhaka Ms Christine I Wallich, Bangladesh Ambassador to the USA Syed Hasan Ahmad and Alternative Executive Director of Bangladesh to the WB Dr Akbar Ali Khan were present at the meeting.

Saifur Rahman said the government has finalised necessary guidelines for bringing transparency in the public procurement system.

The finance minister apprised the WB president of various measures to reform the banking sector including the Bangladesh Bank. Referring to recently initiated free floating of exchange rate, he said taka has proved to be a stable currency.

He sought WB assistance for development of physical infrastructures including railway, water, transport and education.

With the appointment of a new regional vice-president and a country director, the cooperation and working relations between the World Bank and the Bangladesh government would be strengthened further, the WB chief said.