World Bank MD reaffirms strong support for Bangladesh’s inclusive growth

World Bank Managing Director for Operations Anna Bjerde today concluded her first visit to Bangladesh, reiterating the bank's strong support to help Bangladesh achieve its vision of upper-middle income status by 2031. 

She underscored that deep macroeconomic and financial sector reforms are needed urgently to sustain inclusive growth, reads a World Bank press release.   

"The story of Bangladesh's economic growth and development has been an inspiration for many countries," said Bjerde. 

She went on to say, "Fast and bold reforms in monetary and fiscal policies will enable Bangladesh to maintain macroeconomic stability, reduce financial sector risks, and sustain inclusive growth amid global uncertainties." 

During her visit, Bjerde met Prime Minister Sheikh Hasina and commended the country's development. 

She also thanked the prime minister for sheltering displaced Rohingya people and pledged to support Bangladesh in addressing their needs until their safe and voluntary return, as well as those of the host community. 

The World Bank and the Bangladesh government are discussing a financing programme of over $650 million for two new projects to address the needs of both the displaced Rohingya population and the host communities in the Chattogram division, reads the media release. 

It said nearly half of the financing will be utilised for the displaced Rohingya people and will be entirely on grant terms. 

"I am very proud of our long-standing partnership with Bangladesh that has helped lift millions of people out of poverty. We will continue supporting Bangladesh to create jobs, develop a robust private sector, attract investment, and build resilience to climate shocks and future crises while at the same time ensuring that no one is left behind," Bjerde added.   

During the visit, she also met with the finance minister, Bangladesh Bank governor, senior government officials, private sector and civil society leaders and women entrepreneurs to discuss Bangladesh's development priorities. She was accompanied by the World Bank Vice President for the South Asia Region, Martin Raiser. 

Since Bangladesh's independence, the World Bank has committed about $41 billion in International Development Association (IDA) financing in the form of grants, interest-free loans, and concessional credits. Currently, Bangladesh has the largest ongoing IDA programme in the world, and the World Bank is Bangladesh's largest development partner.