The US Agency for International Development (USAID) is striving to be a good development partner to Bangladesh in its journey towards an advanced economy.

USAID Mission Director Reed J Aeschliman said this while addressing the monthly luncheon of the American Chamber of Commerce in Bangladesh (AmCham) at The Westin Dhaka yesterday.

Speaking as the guest of honour at a discussion titled "The Transforming Bangladesh: USAID Partners in Progress", Aeschliman said Bangladesh is graduating from least developed country status to lower-middle income in 2026.

"Congratulations. But from a long-term development perspective, we are assuming you do not want to get stuck on the middle-income track," he said.

"You want to go towards an advanced economy. And that's USAID's job here in Bangladesh. It is striving to be a good development partner to the host country, Bangladesh, in its journey and its trajectory towards an advanced economy."

This vision will be fuelled through private sector growth, economic growth, private sector financing, and public-private partnerships, Aeschliman said.

AmCham President Syed Ershad Ahmed said Bangladesh has been moving in a strong trajectory in terms of economic growth and prosperity over the past decade.

"Our country maintains its position as a rising global force by emphasising infrastructure development, human capital investment, and economic diversification. Despite challenges, by diversifying trade partners and implementing prudent policies, we have mitigated disruptions and maintained our economic growth," he said.

He said the USAID programme in Bangladesh is the largest in Asia, with some of the world's most important food security and health programmes being conducted in the nation.

"As a long-standing partner, USAID remains committed to supporting our journey to becoming an upper-middle-income country by 2031," he said.

USAID is also putting an enormous effort into enhancing trade and creating conditions conducive to business in Bangladesh.

Moreover, in 2023, USAID invested $35 million in a new climate-smart agriculture project in Bangladesh, said Ahmed.

AmCham Vice-President Syed Mohammad Kamal, former presidents, members of the chamber, foreign dignitaries, business leaders, media representatives and other distinguished guests attended the meeting.