Remarkable feat in poverty cutting
The World Bank is going to observe End Poverty Day in Bangladesh this year in acknowledgment of the country's remarkable success in reducing poverty.
Its President Jim Yong Kim arrived in Dhaka yesterday on a two-day visit to see firsthand the progress Bangladesh has made in transitioning successfully to a lower-middle income country, despite daunting development challenges. He will participate in an event to mark the day today, which is officially known as International Day for the Eradication of Poverty.
“Bangladesh has had remarkable success in cutting the number of people living in poverty by almost half and its innovations are well known -- many countries have learned from them,” Kim said in a statement before coming to Bangladesh.
Today's programme at Osmani Memorial Auditorium in the capital will be highlighting Bangladesh's achievement in lifting more than 20 million people out of poverty in less than two decades, according to the WB.
International Day for the Eradication of Poverty, officially recognised by the United Nations, is celebrated every year on October 17 across the world since 1987.
The global financial institution began observing the day formally from last year.
The WB and the Economic Relations Division have been jointly celebrating the day in Bangladesh.
On the occasion, the WB president will deliver a public lecture and take part in a discussion at the Osmani auditorium today.
This is the first visit of a WB president to Bangladesh after 2007 and it is also Kim's first visit to Dhaka.
According to a report on the WB website, poverty in Bangladesh, once considered to be among the poorest nations in the world, has fallen dramatically over the last generation with innovation-driven changes.
The report quoted Finance Minister AMA Muhith as saying, "Poverty is removable if you are sincere, if you have a multi-pronged attack on poverty, and you have commitment. Commitment is the most important thing -- commitment to the elimination of poverty. That, we had. "
Bangladesh cut the poverty rate down to 18.5 percent in 2010 from 44.2 percent in 1991.
Its extreme poverty rate has dropped to 12.9 percent in fiscal 2015-16, according to a new estimate by the WB. This 12.9 percent accounts for two crore people.
The number of women in the workforce has doubled while the birth rate has decreased from 6.2 births per woman in 1990 to just 2.2 today, according to the WB.
About 40 percent fewer women died during childbirth in 2015 compared to that in 2001. The number of children dying before their fifth birthday dropped by two-thirds between 1990 and 2013.
Even after such successes, the country still faces some challenges in eliminating poverty, the WB report says.
But the finance minister expressed hopes that Bangladesh will effectively end poverty before 2030.
Prime Minister Sheikh Hasina will inaugurate today's programme. Chief economist of the WB Paul Romer and Vice President for the South Asia Region Annette Dixon will also participate in the discussion.
During the visit, the WB president will meet PM Hasina, Muhith and other senior government officials.
Kim will also visit a number of WB-financed projects in Rakudia village under Babuganj upazila of Barisal tomorrow to see innovative work being done with the poor, job creation by the private sector, consistent investment in human development, and effective disaster management.
He will also meet civil society representatives and private sector leaders.
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