Development demands self-reliance

Bangladesh should place greater emphasis on self-reliance rather than depending excessively on foreign assistance if it is to achieve sustainable economic development, Emeritus Professor of Western Sydney University Prof Anisuzzaman Chowdhury said on Sunday.

Speaking as the chief guest at a seminar organised by the Policy Research Institute of Bangladesh (PRI), the former special assistant to the chief adviser of the last interim government said Bangladesh continues to rely on external partners and international financial institutions for development, while many other developing nations have advanced by making greater use of their own resources and capabilities.

He argued that the country’s tendency to look abroad whenever reforms or development initiatives are discussed reflects what he described as a form of “mental poverty”, adding that several countries facing more difficult circumstances than Bangladesh have made faster progress by moving beyond such a mindset.

Referring to multilateral financing, Prof Anisuzzaman said Vietnam had rejected a loan offer from the World Bank, while Zimbabwe declined financial assistance from the United Nations during a period of economic crisis despite such support being available.

He said Bangladesh’s continued focus on financial assistance from institutions such as the World Bank and the International Monetary Fund (IMF) raised broader questions about the country’s long-term development approach.

“The question is, when will this mindset change?” he said, adding that many countries have preserved their self-respect while pursuing development through greater self-reliance.

Prof Anisuzzaman also criticised what he described as Bangladesh’s long-standing dependence on India.

While acknowledging India’s support during the country’s 1971 Liberation War, he said that historical gratitude should not translate into continued dependence on New Delhi.

“We can remain grateful for India’s contribution to our independence for a lifetime, but without building a strong foundation of self-reliance, sustainable development will remain difficult,” he said.

Drawing a comparison with Vietnam, he said there is a common misconception that the country’s economic transformation was driven primarily by China.

Instead, he argued, Vietnam rebuilt its war-ravaged economy through its own efforts before later expanding trade relations with its neighbour.

Commenting on his tenure in the interim government, Prof Anisuzzaman also addressed speculation about his appointment, saying many people assumed he was related to Chief Adviser Prof Muhammad Yunus, although no such family relationship exists.

He said he had not known Prof Yunus personally beforehand, despite living in the same neighbourhood, and was invited over the phone to join the interim administration, an offer he accepted.

The seminar was moderated by PRI Chairman Zaidi Sattar.