Deal signed for WB's job creation fund
The government yesterday signed a $250 million development policy operation to support Bangladesh's reform efforts to create large-scale, better-paid and inclusive jobs.
Monowar Ahmed, secretary of the Economic Relations Division, and Qimiao Fan, country director of the WB, inked the agreement at the Pan Pacific Sonargaon Hotel in Dhaka.
The Programmatic Jobs Development Policy Credit—the first of a series of three planned operations—will help Bangladesh build a stronger policy and institutional framework to create faster and more inclusive jobs for citizens, including women, youth, overseas migrants and vulnerable members of the population.
“Jobs are cornerstone for development. Bangladesh needs to create more and better jobs, particularly in the manufacturing sector to achieve its growth aspirations,” said Fan in a statement.
“This programme will support reforms that will address key challenges in creating inclusive and quality jobs. This will help the government implement policies to modernise trade, stimulate investment, strengthen social protection systems for workers and help vulnerable people access jobs.”
Ahmed said the Seventh Five-Year Plan, the Vision 2021 and the electoral pledge "Bangladesh on the March to Prosperity" have identified creating quality and inclusive jobs as a priority for the country.
“The programme will help the government's ongoing initiatives create labour-intensive quality jobs while laying the foundation for a more resilient economy and stronger social protection.”
The programme will support to increase female labour force participation by making childcare more available for working mothers and targeting women and youth with training and employment services.
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