Bangladesh has made rapid social and economic progress in recent decades, reaching lower-middle income status by 2015. Per capita, gross national income (Atlas Method) reached 1,954 US Dollars in 2019. Since 2000, gross domestic product (GDP) growth averaged close to 6 percent annually and accelerated to over 8 percent in FY19 according to official estimates. Strong labor market gains contributed to a sharp decline in poverty, with the national poverty rate falling from 48.9 to 24.3 percent between 2000 and 2016, while extreme poverty declined from 34.3 to 12.9 percent. Bangladesh entered the COVID-19 (coronavirus) crisis with a relatively strong macroeconomic position. However, the overall impact of the lockdown with disruptions to commercial and construction activities as well as travel is yet to be quantified. Bangladesh is also extremely vulnerable to the effects of climate change. The Global Climate Risk Index ranks Bangladesh as the world’s seventh most affected country over the period 1999-2018. Rising temperatures leading to more intense and unpredictable rainfalls during the monsoon season and a higher probability of catastrophic cyclones are expected to result in increased tidal inundation. The demand for development is high in Bangladesh and it has led to the rapid growth of the volume of expenditure on public investments. FY19 Government budget was 53 billion US Dollars of which public procurement allocation accounted for about 24.1 billion US Dollars or 45.2 percent share of the annual budget representing 7.9 percent of the country’s GDP. Bangladesh is the largest IDA borrower globally with a portfolio of more than 12 billion US Dollars of which over 7 billion US Dollars would be spent through procurement.