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[🇧🇩] US/EU support for Yunus-led govt

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[🇧🇩] US/EU support for Yunus-led govt
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Saif

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Date of Event: Dec 6, 2024
Source : https://www.thedailystar.net/news/bangladesh/diplomacy/news/biden-offers-full-us-support-yunus-led-govt-3711256 Short Summary: Western support for Yunus.
Biden offers full US support to Yunus-led govt

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US President Joe Biden has offered his country's full support to Bangladesh's interim government during his rare bilateral meeting with Chief Adviser Prof Muhammad Yunus.

They met on the sidelines of the UN General Assembly in New York last night, signalling a new beginning of the relationship that was strained over the last couple of years.

Nobel laureate Yunus apprised Biden how students stood up to the tyranny of the previous government and laid down their lives to create this opportunity to rebuild Bangladesh, according to a statement from the chief adviser's press wing.

He stressed that his government must succeed in rebuilding the country and would need US cooperation.

"President Biden said if the students could make so much sacrifice for their country, they too should do more," the statement said.

Prof Yunus handed a copy of "The Art of Triumph", a book on graffiti drawn by the student protesters and young pupils during the mass uprising, to President Biden.

"This is a rare meeting at the UNGA. It's good news that the US stands beside Bangladesh in this period of transition," Chief Adviser's Press Secretary Shafiqul Alam told UNB.

He said Bangladesh maintains fine relations with the US, and this meeting will take the ties to a new level.

Diplomatic sources told The Daily Star the US president usually goes to the UNGA for a short time and holding any bilateral meetings with the head of Bangladesh government in New York is rare. This meeting signals Washington's deep interest in engaging with Dhaka.

In fact, they said, the US has been trying to deepen the engagement with Bangladesh over the last few years, but it was not going very well.

The US suspended the Generalised System of Preferences (GSP) facility for Bangladesh in the aftermath of the 2013 Rana Plaza collapse, citing poor labour conditions.

In 2021, it imposed sanctions on Rab and seven of its top officials over human rights violations and in May last year announced visa restrictions for those undermining democratic elections.

After the January elections, Washington said the polls were neither free, fair or participatory.

Under the current interim administration, a six-member US delegation, led by Treasury Department's Assistant Secretary Brent Nieman, visited Dhaka mid-September. It expressed the US's commitment to support Prof Yunus' reform agenda, and eagerness to offer technical and financial assistance for reforms.

When the interim government has taken up major reform initiatives in the changed political landscape, Washington is showing increasing interest in Bangladesh.

Analysts said Bangladesh's main challenge now is boosting trade and economy, and Washington has the capacity to support Dhaka to that end.

For example, US can provide GSP facility through a presidential decree, which can help increase Bangladesh's export to the US by $4-$5 billion.

Bangladesh's export to the US now is nearly $8 billion a year.

M Humayun Kabir, a former Bangladesh ambassador to the US, said the US can make investment through the US International Development Finance Corporation, support the reform process, bring back laundered money etc.

Mohammad Sufiur Rahman, a senior research fellow at the South Asian Institute of Policy and Governance at North South University, said the US can also help security reforms that can eventually lead to withdrawal of sanctions against Rab.

Besides, with better political understanding, Bangladesh may reap greater economic benefits and have access to new avenues for much-needed external funds through multilateral lenders like the World Bank, the IMF or the ADB.

YUNUS MEETS TRUDEAU

Yunus also met Canadian Prime Minister Justin Trudeau in New York and discussed ways to cement the Bangladesh-Canada relationship, deepen freedom, build institutions, and support the youth of Bangladesh.

During the brief meeting, he handed "The Art of Triumph" to the Canadian prime minister.

Trudeau appreciated Yunus for assuming the responsibility and expressed Canada's readiness to support institution-building in Bangladesh, according to a statement from the Chief Adviser's Office.

Yunus appreciated Canada for its friendship with Bangladesh and the Canadian government's support for the interim government.

He requested Canada to grant more visas to Bangladeshi students.

Yunus reached New York on Monday night and started his UNGA visit with a reception hosted by the UN Secretary-General Antonio Guterres.

He met prominent world leaders at the reception. He also joined the inaugural session of the UNGA.

This is Prof Yunus' first foreign visit as head of the interim government to attend the 79th UNGA.

The chief adviser will address the General Debate of the UNGA on September 27.

Foreign Affairs Adviser Md Touhid Hossain, Energy Adviser Muhammad Fouzul Kabir Khan, Permanent Representative of Bangladesh to the UN Ambassador Muhammad Abdul Muhith, Principal Coordinator (SDGs Affairs) Lamiya Morshed, and Additional Foreign Secretary Riaz Hamidullah, among others, are accompanying the chief adviser.

Yunus will also attend a high-level side event on the Rohingya crisis and another one titled 'Meet the Friends of Bangladesh'.

He will host a reception on the occasion of the 50th anniversary of Bangladesh's membership of the United Nations.

Chinese Foreign Minister Wang Yi is scheduled to pay the chief adviser a call.​
 
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Biden welcomes further engagement between US and Bangladesh: White House

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Muhammad Yunus and US President Joe Biden at the UN headquarters in New York. Photo: Chief Adviser's Press Wing

US President Joe Biden and Bangladesh interim government chief adviser Muhammad Yunus both affirmed the close partnership between the two countries, rooted in shared democratic values and strong people-to-people ties.

Biden welcomed further engagement between the two governments and offered continued US support as Bangladesh implements its new reform agenda, said a White House statement after the two leaders met on the sidelines of the UN General Assembly in New York.

Biden also congratulate Yunus on his recent appointment as the head of the interim government.

Yunus was sworn in as the chief adviser of the interim government on August 8, three days after Sheikh Hasina resigned as the prime minister and fled the country in the face of a student-led mass uprising against her Awami League government.​
 

In pictures: Yunus meets world leaders at UNGA

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Chief Adviser Muhammad Yunus meets former US President Bill Clinton on the sidelines of the UN General Assembly in New York on September 24. Photo: Chief Adviser's Press Wing


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Prof Yunus with Brazilian President Luiz Inacio Lula da Silva. Photo: Chief Adviser's Press Wing


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Yunus meeting Italian Prime Minister Giorgia Meloni. Photo: Chief Adviser's Press Wing
 
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Muhammad Yunus and US President Joe Biden at the UN headquarters in New York. Photo: Chief Adviser's Press Wing


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With UN High Commissioner for Human Rights Volker Turk. Photo: Chief Adviser's Press Wing


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The chief adviser meets World Bank President Ajay Banga. Photo: Chief Adviser's Press Wing
 
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Prof Yunus presenting The Art of Triumph, an art book on the graffiti painted on walls around the country by Bangladeshi students and young people during and after the mass uprising, to Canadian PM Justin Trudeau, at the UN headquarters in New York. Photo: Lamiya Morshed
 

Biden, Yunus Talks: Govt looks to strengthen trade, ties

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Yunus Biden meeting in New York

The bilateral meeting between Chief Adviser Prof Muhammad Yunus and US President Joe Biden due today provides a rare opportunity for Dhaka to push for improving trade and boost the economy, say analysts.

Biden agreeing to meet with Yunus on the sidelines of the UN General Assembly in New York signals Washington's eagerness to support Bangladesh's interim government.

Diplomatic sources said the US president usually goes to the UNGA for a short time and holding any bilateral meetings with the head of the Bangladesh government is rare.

"This signals that Washington wants to seriously engage with Dhaka because Bangladesh is important for the US and Prof Yunus has a global standing," said Obaidul Haque, associate professor at Dhaka University's International Relations Department.

He said the US has been trying to deepen the engagement with Bangladesh over the last few years, but it was not going very well. Now that the interim government has taken up initiatives for widespread reforms, and promised democratic elections and good governance, Washington is showing increasing interest.

The US suspended the Generalized System of Preferences (GSP) facility for Bangladesh in the aftermath of Rana Plaza collapse in 2013, citing poor labour conditions. In 2021, it imposed sanctions against Rab and seven of its top officials over human rights violations and in May last year announced visa restrictions for those undermining democratic elections.

Former prime minister Sheikh Hasina made critical remarks of the US that was vocal about human rights, media freedom, and free and fair election ahead of the national polls on January 7 this year.

With the changed political landscape, the Dhaka-Washington relations appeared to take a new trajectory.

A six-member US delegation, led by Treasury Department's Assistant Secretary Brent Nieman, visited Dhaka in mid-September, the first foreign delegation's tour after the interim government was formed.

The delegation said Washington would be happy to support Prof Yunus' reform agenda and expressed eagerness to offer technical and financial assistance for reforms.

According to foreign policy analysts, Bangladesh's main challenge is now the economy, and the reforms agenda being taken up will be successful if the economic challenge can be addressed. Things may be different otherwise.

With better political understanding, Bangladesh may secure greater economic benefits and have access to new avenues for much-needed external funds, at favourable conditions, said Mohammad Sufiur Rahman, a senior research fellow at the South Asian Institute of Policy and Governance at North South University.

Even with about 18 percent duty, Bangladesh's export to the US is close to $8 billion and it can be easily increased by a few billion if there is a duty-free quota-free facility, and non-tariff barriers are addressed.

"The US administration may, if felt imperative to do so, consider flexible ways and special vehicles to offer GSP facility to Bangladesh in the changed circumstances," he told The Daily Star yesterday.

With Washington's support, the International Monetary Fund, the World Bank, and the Asian Development Bank may favour allocating funds for Bangladesh. Such support will have positive impacts on the overall economy because the funding will lead to economic stabilisation, employment generation, and increased wages, he said.

These in turn can embolden the interim government's resolve and capacity to secure improved governance, higher labour standards, and better human rights. Such a positive spiral can also encourage greater economic interaction and quality investments from other Western countries.

"If the US companies can be encouraged to invest in the IT sector of Bangladesh and the Bangladeshi IT experts in the US can be connected to our IT industry, it can significantly increase Bangladesh's IT-related services export. The same can happen with other cutting-edge technologies if the US shows keenness only with deeper political understanding, trust, and confidence," said Sufiur, Bangladesh's former permanent representative to the UN offices and international organisations in Geneva.

Sufiur said over the last years of the Awami League government, Bangladesh had to depend more on China for its failure to bridge gaps with the US and the West, and there is a real chance of striking a balance now.

DU teacher Obaidul said Washington can also provide budgetary support, which is much needed in Bangladesh.

He said the export of Bangladeshi readymade garments saw a decline amid recent demonstrations and subsequent unrest, and US support towards this end will be extremely helpful.

Washington can also support Bangladesh's reform process, including in financial and security sectors.

"If Bangladesh improves in human rights, labour rights, and governance sectors, and eventually the sanction against Rab is withdrawn, this will have positive impacts on Bangladesh's export to the Western countries," Obaidul added.

Analysts said Prof Yunus, who has earned US trust, is expected to discuss these aspects and take forward the US-Bangladesh relations to a new level.

Dhaka needs to ensure that it maintains a balanced foreign policy, they added.​
 

Dr Yunus: From pariah to leader

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Professor Yunus’s dedication to economic and social development has made him a widely respected global icon. PHOTO: PID

For years, Nobel Peace Prize laureate Muhammad Yunus faced intense persecution in Bangladesh, largely due to animosity from the country's long-term leader, Sheikh Hasina. Theories about Hasina's hostility ranged from jealousy to fear of Yunus's global influence. Despite his international acclaim, including a Nobel Prize and numerous other awards, Yunus was subjected to hundreds of lawsuits and accusations during Hasina's decade and a half of increasingly autocratic regime.

In June 2024, Yunus, globally renowned as a thinker and activist who championed the cause of the poor, found himself, along with 13 of his colleagues, standing in an iron cage during a kangaroo court trial related to his decades of leadership as the Managing Director of the iconic Grameen Bank (GB), the co-winner of the Nobel Peace Prize, and its galaxy of sister organisations, each modeled on what Yunus called a "social business." These were mission-driven organisations whose main purpose was to empower the poor. Their goal was not to maximise profits, but to ensure long-term sustainability and to uplift millions from poverty.

His unlikely journey to global fame as an anti-poverty crusader and social thinker with new ideas began in 1974 near the village called Jobra, situated not too far from the campus of Chittagong University, Bangladesh, where he taught economics and served as the chair of the Department of Economics.

Eventually, through trials and error and real-world experimentation, he founded the Grameen Bank to help rural women escape poverty using an innovative financial model called micro-credit (later microfinance), based on pragmatic thinking. He was committed to solving the ancient problem of poverty through experimentation. This led him to create an entirely new model of poverty alleviation based not on textbook economic theories, but on the realities in rural Bangladesh, and informed by ideas from behavioural economics and sociology.

Despite facing significant challenges, Yunus's dedication to economic and social development eventually made him into a global icon in the war on poverty. Known as the "banker to the poor" (based on the title of his 1998 autobiography), today Yunus is a global celebrity. He has been honoured not just with a Nobel Prize but also with the US Presidential Medal of Freedom (awarded by former President Barack Obama) and the US Congressional Gold Medal, along with more than a dozen other prestigious awards. His close ties with French President Emmanuel Macron, who recently invited him to participate as an adviser at the 2024 Paris Olympics, former US Presidents Jimmy Carter and Bill Clinton, former US Secretary of State Hillary Clinton, and luminaries like Bono and Richard Branson have added to his profile in the global arena.

Alas, his storied journey was anything but smooth. Starting in 2011, Yunus suffered years of persecution. He was unceremoniously expelled from his own institution, the Grameen Bank, and later faced more than 150 unsubstantiated cases lodged to harass him by the autocratic government of Sheikh Hasina. His persecution entangled his colleagues and employees of the Grameen Bank and its many sister organisations. A few of them became victims of forced disappearances and were kept in a place known as "Aynaghor," or the "House of Mirrors." These were part of secret torture chambers across the city, run by rogue elements in law enforcement during the Hasina regime. On August 5, 2024, following weeks of student-led protests during which hundreds of students were killed and injured, in a dramatic reversal of fortunes, Hasina was ousted, and Muhammad Yunus was chosen unanimously by the victorious student leaders to lead Bangladesh's transitional government. On August 8, he took the oath of office as chief adviser of the interim government.

Born in 1940 in Chittagong, a port city on the southeastern coast of Bangladesh, Yunus studied economics as an undergraduate student at Dhaka University. Later, he started his own packaging and printing business in his home city, but moved to the United States upon receiving the prestigious Fulbright scholarship to attend Vanderbilt University in Nashville, Tennessee. In 1969, he earned a doctorate in economics, writing his doctoral dissertation under the supervision of the renowned Romanian scholar and economist, Professor Nicholas Georgescu-Roegen.

When Yunus was teaching economics at Middle Tennessee State University near Nashville, his homeland of East Pakistan (which would become the nation-state of Bangladesh) was engulfed in a political conflict leading to a grave humanitarian crisis. In 1970, Sheikh Mujibur Rahman's party won a decisive victory in the elections, following years of discrimination and neglect faced by the Bengali-speaking population of East Pakistan. The Pakistani military dictator, Yahya Khan, launched a violent crackdown, which led to the nine-month armed resistance and the liberation war. After intense violence and one of the largest forced migrations the world had witnessed, with some 10 million refugees seeking shelter in neighbouring India, the war ended with the birth of an independent Bangladesh.

Always an activist, during the months of struggle, Yunus joined a few other members of the Bangladeshi diaspora in the US and travelled from Nashville to Washington to plead with members of US Congress to stop supporting the Pakistani military amid its genocidal campaign in East Pakistan. Throughout the 1971 war, the Nixon administration had maintained a foreign policy largely supportive of West Pakistan, despite widespread evidence of brutal repression and human rights violations committed by Pakistan's military junta.

After the liberation of Bangladesh on December 16, 1971, there was a need for massive reconstruction of the nation ravaged by years of war in which millions had perished. The US National Security Adviser Henry Kissinger, no friend of Bangladesh, continued to prioritise geopolitical interests over humanitarian concerns faced by the new nation in distress.

In 1974, this policy translated into delayed food shipments for a nation already on the brink of famine. Bangladeshi economist, Professor Rehman Sobhan, wrote that because the Bangladeshi government had moved to strengthen trade relations with Cuba, Kissinger decided to penalise the new nation. The liberation war had already devastated Bangladesh's economy and infrastructure. News of a poor harvest and concern over shortages led to panic-buying and destabilising speculation in rice markets. The increase in the price of rice, along with other factors, resulted in the 1974 Bangladesh famine. This was a major humanitarian disaster which by some estimates led to more than a million deaths.

Despite facing significant challenges during his long career, Professor Yunus's dedication to economic and social development has made him a widely respected global icon. His recent appointment as the head of Bangladesh's interim government has led to an outpouring of support and renewed hope for a nation suffering years of tyranny. Now that he has attained not just international prominence, but also executive power, it remains to be seen how his vision, his work on poverty alleviation, his global network of influential admirers, and his experience as a social entrepreneur might alter the course of Bangladesh and its 173 million people.

Munir Quddus is a professor of economics and dean of the College of Business at Prairie View A&M University in Texas.​
 

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