WB Vice President supports BD’s inclusive growth

Staff Reporter :
The World Bank (WB) Vice President for South Asia, Martin Raiser, concluding his three-day visit to Bangladesh, on Monday reaffirmed the World Bank’s continued support to help the country 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, according to a press release of the WB Dhaka office.
 “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,” he said.
Raiser also met with the Finance Minister and Bangladesh Bank Governor and discussed policy measures to mitigate recent global shocks and build economic resilience. 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 January 1, 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.
 “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,” he added.
The WB was among the first development partners to support Bangladesh following its independence. In the 50-year partnership, the WB has committed more than $37 billion in International Development Association (IDA) financing in the form of grants, interest-free loans, and concessional credits to help the country tackle its development challenges.
Currently, with nearly $15.7 billion in financing for 55 ongoing projects, Bangladesh has the largest IDA programme globally. The World Bank is also Bangladesh’s largest development partner.