WB lauds Dhaka’s economic, social reforms
Staff Reporter :
The World Bank (WB) has reaffirmed its strong support for Bangladesh’s inclusive growth agenda and ongoing financial sector reforms, praising the interim government’s efforts under the leadership of Chief Adviser Professor Dr Muhammad Yunus.
The remarks came from Johannes Zutt, the newly appointed World Bank Vice President for the South Asia Region, during
a high-level meeting with Professor Yunus at the State Guest House Jamuna in Dhaka on Monday night. Jean Pesme, World Bank Director for Bangladesh and Bhutan, also attended the meeting.
Zutt, who previously served as the World Bank Country Director for Bangladesh, Bhutan, and Nepal from 2013 to 2015, expressed deep personal affection for the country and lauded the current administration’s progress.
“You and your excellent team are doing a remarkable job-thank you for that,” Zutt told the Chief Adviser. Commending the government’s efforts to address critical issues in the financial sector, he added, “We are ready to continue our journey and share the aspirations of the people of Bangladesh.”
Zutt also paid tribute to the students who lost their lives in last year’s July uprising, describing it as a deeply emotional moment for all those connected to Bangladesh.
In response, Professor Yunus expressed appreciation for the World Bank’s continued partnership. “When we assumed office, the situation felt like the aftermath of a devastating earthquake. We had no prior experience, yet development partners like the World Bank stood by us. That gave us confidence,” he said.
Highlighting the central role of youth in the July movement, Professor Yunus noted, “They inspired the nation to dream of a New Bangladesh. What our youth achieved last July-especially our girls and women-will be remembered in history. Their sacrifices must not go in vain.”
The Chief Adviser urged the World Bank to view Bangladesh not merely in terms of geography but as a regional economic force. “If Bangladesh prospers, South Asia prospers. We must improve trade and transport systems and make full use of our coastline to drive economic growth,” he said.
Pointing to Bangladesh’s demographic advantage, he added, “In many countries, youth populations are declining. We are inviting the world-bring your factories here. We will provide all necessary support to help Bangladesh become a manufacturing hub.”
Zutt praised Professor Yunus’s lifelong commitment to women’s empowerment and youth development. “With our support, Bangladesh launched a girls’ scholarship programme that went on to become a model in other countries,” he said. “The World Bank will continue supporting initiatives that create opportunities for young people.”
Zutt noted that the World Bank disbursed over $3 billion in financing to Bangladesh during the last fiscal year and pledged similar levels of support over the next three years.
Also present at the meeting was Lutfey Siddiqi, Special Envoy for International Affairs to the Chief Adviser, who briefed the delegation on progress at the New Mooring Container Terminal (NCT) near Chattogram Port. He reported a significant increase in container handling efficiency under the new operational system.
“We’re working to make it even more efficient,” Siddiqi said, adding that the January-March 2025 quarter saw a notable rise in net foreign direct investment, driven by intra-company loans and strong equity inflows.