Bangladesh can use South Korea’s strategy

A top World Bank official yesterday said Bangladesh can replicate South Korea's post-pandemic strategy to address climate change issues, while keeping up its high economic growth.

Hoon Sahib Soh, practice manager of World Bank's Macroeconomics, Trade, Investment and Public Sector, said Korea has undertaken a post-pandemic recovery strategy with an overarching theme of strengthening employment and social safety nets. Known as the "New Deal", the project will invest $144 billion, creating up to two million jobs by 2025, he said, while addressing a webinar organised by Policy Research Institute of Bangladesh (PRI).

Hoon, a South Korean national, said the WB is ready to support Bangladesh in developing its approach to green growth.

PRI Chairperson Dr Zaidi Sattar said without having to sacrifice its growth, Bangladesh can still address climate change and be green.

PRI Executive Director Ahsan H Mansur said the impact of climate change is already visible in southern districts, as statistics show population there was declining, with many becoming climate refugees and migrating to urban areas.

State Minister for Planning Shamsul Alam said Bangladesh has now 3.5 percent of energy coming from renewable sources. The country should not be complacent, because it has to go a long way to turn its economy into a green one.