Finance and Planning Minister Amir Khosru Mahmud Chowdhury Tuesday said no development project will be approved unless it meets four conditions: value for money, returns against investment, generation of employment or entrepreneurship, and environmental considerations and protection.

"No project will be approved if these four conditions are not met," the minister was speaking as chief guest at a seminar titled "Beyond Foreign Dependency: The Future of NGO Financing in Bangladesh" at the conference room of the Bangladesh Institute of Development Studies (BIDS).

Khosru stressed the need for a strong and institutionalised partnership among NGOs, the private sector and the government to address development challenges and ensure sustainable financing. He also called for time-bound measures to create a sustainable financing framework for NGOs.

He urged the authorities to formulate and implement policies within specific timeframes to facilitate sustainable financing for NGOs, noting that they play a vital role in taking government services directly to people at the grassroots.

The government is working to address crises emerging in the country and ensure accountability, the minister said.

We do not want merely to listen; we want to provide effective responses," he said.

He said an integrated framework is needed for human development, preservation of local culture and greater participation of the private sector.

NGOs and other stakeholders are already working in various areas, including the creative economy, Khosru said, adding that such cooperation needs to be given a more institutional and policy-based shape.

Referring to traditional local crafts such as Shital Pati, he said Bangladesh needs to promote modern designs, value addition and marketing to take such products to international markets.