World Bank vice president reiterates support for Bangladesh
World Bank Vice President for South Asia, Martin Raiser, reaffirmed the World Bank's continued support to help Bangladesh navigate through the current economic challenges and achieve resilient and inclusive growth.
Raiser met Prime Minister Sheikh Hasina on Monday and thanked her for the country's leading role in climate change adaptation and disaster preparedness.
In his meeting with the premier, Raiser said Bangladesh has surprised the whole world through its tremendous development, describing the country as "a success case of development".
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"The World Bank is proud to be a part of Bangladesh's tremendous development journey for the past 50 years. Bangladesh provides valuable insights and important lessons in rapid poverty reduction and sustained growth for many other countries around the world," said Raiser.
Raiser also met with the finance minister and Bangladesh bank governor and discussed policy measures to mitigate recent global shocks and build economic resilience.
During the meetings, they also discussed the World Bank's support for Bangladesh's development priorities.
He was accompanied by Abdoulaye Seck, World Bank's incoming Country Director for Bangladesh and Bhutan, who will assume his position on 1 January 2023.
"The war in Ukraine, the impacts of the Covid pandemic, and the climate crisis have created unprecedented challenges for the global economy. Every country is struggling to cope, and Bangladesh is no exception," said Raiser.
He went on to say, "Bangladesh can sustain rapid growth by strengthening macro, fiscal and financial sector reform and continuing investment in human capital and climate resilience. We are ready to lend our full support to these efforts at this challenging time."
The World Bank was among the first development partners to support Bangladesh following its independence.
Since then, the World Bank has committed more than $37 billion in grants, interest-free, and concessional credits to the country.
Bangladesh currently has the largest ongoing International Development Association (IDA) programme totaling over $15.7 billion in 55 active projects.
