World Bank approves $150.75m to boost jobs for low-income youth in Bangladesh

The World Bank has approved an additional $150.75 million to help Bangladesh expand employment and income-generating opportunities for low-income youth and microentrepreneurs, with a special focus on women and people living in climate-vulnerable areas.

The financing will support the scaling up of the Recovery and Advancement of Informal Sector Employment (RAISE) Project, which aims to create jobs and livelihoods for another 176,000 young people across the country. This comes on top of the 233,000 beneficiaries already covered under the project.

Under the expanded programme, participants will receive a comprehensive package of support, including skills training, apprenticeships, entrepreneurship development and access to microfinance. These services are designed to help young people and microentrepreneurs overcome barriers to employment and business growth.

The additional funding will also introduce innovative measures to strengthen women's economic participation. These include piloting quality and affordable home-based childcare services through training and start-up grants for women, which are expected to boost female labour force participation while creating new jobs in the care sector. Women beneficiaries will also receive life skills training to enhance confidence and empowerment.

"This additional financing will help more young people from low-income families, especially women and those in vulnerable communities, to access market-relevant skills, resources, and training they need for better employment and livelihood opportunities," said World Bank Acting Division Director for Bangladesh and Bhutan Gayle Martin.

The expanded RAISE project will extend its reach beyond urban centres to rural communities, ensuring that marginalised youth and microentrepreneurs across the country benefit from targeted support. It will also strengthen job intermediation efforts by organising job fairs, linking employers with candidates and assisting with marketing and contract negotiations.

According to World Bank Senior Social Protection Economist and Team Leader for the project, Aneeka Rahman, the new financing will allow the Bank to scale up proven interventions, expand access to microfinance and introduce innovative solutions such as childcare services to help young people and women build resilient futures.

The project has already demonstrated strong outcomes. More than 80% of apprentices who completed training secured employment within three months, while young microentrepreneurs reported improved earnings and better business practices.

Since its launch in 2021, the RAISE project has supported over 50,000 COVID-affected microentrepreneurs with recovery loans and training, registered more than 250,000 returning migrants for reintegration support, and provided economic inclusion services to over 122,000 beneficiaries, 55% of whom are women.

With the new financing, the World Bank's total support for the RAISE project now stands at $350.75 million.