World Bank VP reiterates strong support for Bangladesh

World Bank Vice President for South Asia Martin Raiser today reaffirmed the multilateral lender's continued support to help Bangladesh achieve sustainable and inclusive growth as he concluded his two-day visit to the country.

"Bangladesh faces continued external pressures, which require careful macroeconomic management, but also a deepening of structural reforms to attract more private investment, boost jobs and strengthen resilience against climate shocks," said Raiser in a press release.

"We stand ready to redouble our support under our new country strategy and accelerated implementation of our large existing portfolio."

Raiser visited Bangladesh as part of his current visit to the South Asia region.

He met with the Bangladesh bank governor, the state minister for power, energy, and mineral resources, the senior secretary of the finance ministry, the secretary of the Economic Relations Division, and other senior government officials, according to the press release.

They discussed the WB's new country partnership framework for Bangladesh for fiscal years 2023-27 as well as how the WB support can be best utilised to help Bangladesh navigate the global uncertainties and increasing climate change impacts.

Raiser urged speeding up the pace of implementation of the World Bank-supported projects.

The WB and Bangladesh today signed a $191 million financing to strengthen the higher education sector and respond better to the Covid-19 pandemic.

The Higher Education Acceleration Transformation Project will support regional and global collaboration, research and innovation in higher education. It will help more women access quality tertiary education. 

Sharifa Khan, secretary of the ERD, and Abdoulaye Seck, country director of the WB for Bangladesh and Bhutan, signed the agreement.