World Bank scales up job support for low-income youth in Bangladesh
World Bank has approved $150.75 million in additional financing to help Bangladesh expand employment and income opportunities for low-income youth and microentrepreneurs, with a particular focus on women and people living in climate-vulnerable areas.
The funding will support the Recovery and Advancement of Informal Sector Employment Project (RAISE), enabling assistance for an additional 176,000 young people across the country, on top of the project's earlier 233,000 beneficiaries. Participants will receive a comprehensive package of services, including skills training, apprenticeships, entrepreneurship development and access to microfinance to address barriers to employment and business growth.
The additional financing will also introduce innovative measures to support women's empowerment, including access to quality childcare services and climate-resilient livelihood options to help communities adapt to climate shocks.
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Gayle Martin, Acting Division Director for Bangladesh and Bhutan at the World Bank, said many young Bangladeshis struggle to find work despite entering the labour market each year due to job quality issues and skills mismatches. She said the new financing would help young people from low-income families, especially women and those in vulnerable communities, gain market-relevant skills and resources for improved livelihoods.
The financing will expand the project's reach beyond urban centres to rural areas and pilot affordable, home-based childcare services by providing training and start-up grants to women. These efforts aim to boost female labour force participation, create jobs in the care sector and improve early childhood development outcomes. Women beneficiaries will also receive life skills training to strengthen confidence and empowerment.
In addition, the project will enhance job intermediation through job fairs, employer linkages and support in marketing and contract negotiations.
Aneeka Rahman, World Bank Senior Social Protection Economist and team leader of the project, said the RAISE programme has already demonstrated strong results, with more than 80 percent of apprentices securing employment within three months of completion and young microentrepreneurs reporting improved earnings and business practices.
With the latest approval, total World Bank support for the RAISE project now stands at $350.75 million.
