Ready to redouble our support: World Bank VP tells Bangladesh

World Bank Vice President for South Asia, Martin Raiser, reaffirmed Bangladesh the World Bank's continued support to help the country achieve sustainable and inclusive growth. 

"We stand ready to redouble our support under our new country strategy and accelerated implementation of our large existing portfolio," said Raiser as he concluded his two-day visit to Bangladesh on Tuesday (13 June), according to a press release.

He also said, "Bangladesh faces continued external pressures, which require careful macroeconomic management, but also a deepening of structural reforms to attract more private investment, boost jobs and strengthen resilience against climate shocks." 

Raiser visited Bangladesh as part of his current visit to the South Asia Region. He met with the Bangladesh Bank governor, energy minister, senior secretary of the Ministry of Finance, secretary of the Economic Relations Division, and other senior government officials. 

They discussed the World Bank's new country partnership framework for Bangladesh for fiscal years 2023-27 as well as how the World Bank support can be best utilised to help Bangladesh navigate the global uncertainties and increasing climate change impacts. 

Raiser urged speeding up the pace of implementation of the World Bank-supported projects.

The World Bank and Bangladesh on Tuesday signed a $191 million financing to strengthen the higher education sector and respond better to the Covid-19 pandemic. 

The Higher Education Acceleration Transformation Project will support regional and global collaboration, research and innovation in higher education. It will help more women access quality tertiary education.  

Sharifa Khan, secretary of the Economic Relations Division of Bangladesh, and Abdoulaye Seck, World Bank country director for Bangladesh and Bhutan, signed on behalf of Bangladesh and the World Bank, respectively, in presence of Raiser.