Countries can learn from Bangladesh’s development experience: WB top official

Countries can learn from Bangladesh's development experience, said World Bank (WB) Vice President for South Asia Martin Raiser after concluding his visit to Dhaka today.

"The World Bank is committed to helping the country remain on a sustainable and inclusive growth path," Raiser said.

He reaffirmed the WB's continued support for Bangladesh's effort to ensure green, resilient, and inclusive growth, according to a press release.

In his meetings with the government and other stakeholders, Raiser discussed how the World Bank's support can be best aligned to help Bangladesh realise its vision of being an upper-middle-income country by 2031.

Bangladesh is a development success story in South Asia, and the World Bank is proud of being a partner in the country's development journey for the past 50 years, Raiser said.

"We remain committed to helping Bangladesh achieve its growth aspirations. This will require timely policy actions to build strong public institutions, improve competitiveness, ensure climate resilience, and strengthen external and fiscal buffers."

In his meeting with Finance Minister AHM Mustafa Kamal, Raiser commended the government for the rapid post-Covid recovery.

They discussed the global economic outlook and the implications for economic policies.

"To continue its growth trajectory and enhance macroeconomic stability amid uncertainties and rising inflation, Bangladesh needs to stay the course on the reform priorities set out in its national plans," he said.

During the visit, he also met with Salman F Rahman, adviser to the Prime Minister on private sector affairs, Abdur Rouf Talukder, governor of Bangladesh Bank, and senior government officials, as well as representatives from the private sector, civil society, and development partners, the press release said.

The WB Group is preparing its new country partnership framework for Bangladesh, which will guide its support to the country from 2023-2027, it said.