Prime Minister’s Economic and Planning Adviser Dr. Rashed Al Mahmud Titumir has called for comprehensive reforms to the global financial architecture to ensure affordable, fair, and risk-sensitive financing for developing countries.
He made the call on Friday at a Leaders’ Dialogue titled “Leading SDG Action” held at the United Nations Headquarters in New York.
Dr. Titumir said, “Our overall approach must be collective and forward-looking. We need to build a global financial architecture that not only finances development but also creates the environment necessary to make development sustainable.”
Highlighting five priorities for reforming the international financial system, including multilateral development banks, Dr. Titumir called for financial mechanisms capable of identifying and mitigating risks in advance rather than relying primarily on reactive responses to crises.
He also emphasized strengthening the voice of vulnerable countries in the policymaking and decision-making processes of international financial institutions, ensuring long-term, affordable, and equitable financing, better aligning international financing with national development priorities, and maintaining flexible support and preferential benefits for countries graduating from the Least Developed Country (LDC) category.
Dr. Titumir also highlighted Bangladesh’s “SDG Village” initiative as an example of grassroots-level SDG implementation. He said the initiative focuses on the needs and priorities of local communities and integrates renewable energy, safe water and sanitation, livelihood opportunities, women’s empowerment, digital services, and climate resilience.
The dialogue was also attended by European Commission Executive Vice-President Teresa Ribera, Benin’s Minister of Economy and Finance Aristide Medenou, and Panama’s Minister of Social Development Beatriz Carles de Arango. The session was moderated by Sherwin Bryce-Pease of the South African Broadcasting Corporation.
