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This letter was originally sent to LightCastle Bimonthly Newsletter subscribers.
In a world facing growing tension between countries — leaving back a rising wave of inequality, disconnect, and lack of empathy — the need for connectedness and the power of unity is more dire than ever. The impact of climate change, economic turmoils, and gender disparity further aggravate the liveability and the potential to leave behind a world that is more breathable and harmonious. And in moments like these, you can’t help but reflect on what truly matters for you to play your part in changing this.
Last week, I was visiting the southern part of Bangladesh, and I have been left mesmerized — like every time — by the level of development that’s taking place across the region. With greater connectivity now to the region, developments are anticipated to tick up further in the coming years. That said, there still remains ample room for improvement in areas including, but not limited to, sustainable agriculture, gender equality, education, WaSH, and power to name a few.
While I was overjoyed by the internet speed and coverage even in some of the remotest villages, I was equally appalled by the extent of power failures and unclean water. Coupled with the intense heat that’s prevailing over the nation at present, just imagine how difficult life continues to be for the people living there.
Economic growth is at its best when it is inclusive. Growth has the potential to accelerate inclusion. And inclusion carries the potential for lasting growth. Over the past 10 years, the Bangladesh economy has grown significantly, reaching a GDP of USD 460 Bn. With a growth rate of 6.01%, Bangladesh is expected to become the 20th largest global economy by 2038.
Incidentally, LightCastle’s journey also began 11 years back. And over the period, our firm strived to work in collaboration with the private, public, and social sectors to promote sustainability and inclusion as a means to propel economic development in Bangladesh.
Earlier this month, we published our latest impact report based on our firm’s commitment to fostering a sustainable and inclusive economy. At LightCastle, our purpose is to accelerate sustainable and inclusive growth everywhere we operate.
Applying a systemic and data-driven approach to advising and implementing projects for our 150+ clients spanning 15+ emerging markets, I’m happy to report that thus far we are humbled to have made a difference in the lives of more than half a million people.
The report highlights some of the key thematic areas that we believe are critical for any developing economy. It provides a glimpse into some of our endeavors aimed at catalyzing economic growth, fostering enterprise development, promoting digital transformation, advancing gender equality, enhancing financial inclusion, and building climate resilience.
I invite you to learn more about some of our works by downloading the report from here.
When I look back at the journey, I feel we have just started scratching the surface. There’s just so much more to accomplish. Conversely, the developing world has much to learn from some of the advancements in the Bangladesh economy.
Our firm’s purpose is to help create positive, enduring change in the world. We hope we can keep doing our part to not just work for Bangladesh, but also play a role in global development — thereby accelerating sustainable and inclusive growth through direct and measurable impact in partnership with private and development partners around the world.
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