World Bank VP Zutt meets CA Yunus, praises interim govt’s economic steps

Johannes Zutt, the newly appointed World Bank vice president for South Asia, expressed strong support for Bangladesh's inclusive growth and appreciated Chief Adviser Muhammad Yunus for the interim government's reform agenda in the economic sector.

Zutt, accompanied by Jean Pesme, the World Bank's new division director for Bangladesh and Bhutan, called on the chief adviser at his official residence, Jamuna, today (15 July), reads a press release. 

During their discussion, Zutt shared his deep affection for Bangladesh, recalling his previous tenure as the World Bank's country director for Bangladesh, Bhutan and Nepal from 2013 to 2015.

"Kudos to you and your fantastic team for doing a good job," he said, acknowledging the interim government's efforts under CA Yunus's leadership, particularly in addressing "some very challenging issues in the financial sector."

He added, "We are very much prepared to continue our journey and share the ambition of the people of Bangladesh."

He paid tribute to the students who lost their lives in the July Uprising last year, calling it "a very moving moment for everyone who is connected with Bangladesh."

The chief adviser thanked him for his support and appreciation.

"When we assumed the office, it was like a catastrophic zone, like a place after an earthquake. We didn't have any experience. Yet, all the development partners supported us. And it helped us a lot; it made us confident," he said.

The chief adviser highlighted the role of the youth in the July Uprising and said, "They showed this nation a dream of building a new Bangladesh."

He said, "What our young people did last July was historic; especially our girls and women played a significant role. We are observing July Women's Day today. Their sacrifices must not go in vain. Young people are the focal point of our country. We need to concentrate on young people and match their ambition."

Yunus urged the World Bank not to view Bangladesh merely as a "geographical boundary", insisting that the Bangladeshi economy is much bigger than that.

"If Bangladesh prospers, the whole South Asian region will prosper. If we separate ourselves, we are not progressing. We need to develop our international trade facilities and transport. We have an ocean. It is an important part of our economy."

"Most countries are short on young people, so we told them to bring their factories here. We will provide the essentials for industries to make a production hub," said Yunus.

World Bank vice president commended Yunus's work in empowering women. "We will continue supporting you. With the World Bank's support, Bangladesh had a pioneering girls' education stipend programme that had been replicated in other countries," Zutt said, adding that the World Bank will help Bangladesh create opportunities for the youth.

He noted that the global lender financed over $3 billion in Bangladesh last financial year and pledged to continue similar support in the next three years.

Lutfey Siddiqi, special envoy for international affairs to the chief adviser who was also present at the meeting, provided an update on the New Mooring Container Terminal (NCT) of Chattogram Port.

He noted that container handling at the NCT has increased with the new operational management. "Our plan is to make it more effective. We also saw a significant surge in net foreign direct investment (FDI) in the January-March quarter of 2025, driven by a sharp rise in intra-company loans and strong equity investments," Siddiqi said.