In a demonstration of unwavering commitment, the Vice-President for South Asia at the esteemed World Bank, Martin Raiser, has once again pledged the organization’s relentless support to facilitate Bangladesh’s journey towards sustainable and inclusive economic progress.
Acknowledging the persistent external pressures that Bangladesh faces, Raiser emphasized the imperative of meticulous macroeconomic management and a profound embrace of structural reforms to attract enhanced private investments, stimulate job creation, and fortify resilience against the harrowing impact of climate-related adversities. Concluding his two-day visit to Bangladesh on Tuesday, Raiser left no doubt about the World Bank’s resolve to redouble its assistance, further accelerating the implementation of their already extensive portfolio.
Raiser’s visit to Bangladesh holds significant importance within the context of his ongoing South Asia tour, an endeavor undertaken by the revered lending institution to forge stronger regional ties and foster comprehensive collaboration. During his time in the country, Raiser engaged in fruitful dialogues with esteemed figures such as the Governor of Bangladesh Bank, the State Minister for Energy, the Senior Secretary to the Ministry of Finance, the Secretary to the Economic Relations Division, and other prominent government officials.
Discussions centered around the World Bank’s forthcoming country partnership framework for Bangladesh, which encompasses the financial years 2023-27. The primary objective was to explore optimal strategies to leverage the World Bank’s support, enabling Bangladesh to navigate the volatile global landscape and effectively combat the mounting ramifications of climate change.
Raiser seized the opportunity to urge an expeditious implementation of ongoing World Bank-supported projects, underscoring the criticality of swift execution in driving tangible outcomes.
In a momentous milestone, the World Bank and Bangladesh consummated a significant financial agreement worth a staggering $191 million on Tuesday. This financing endeavor will significantly bolster the higher education sector, allowing it to better respond to the multifaceted challenges posed by the Covid-19 pandemic.
Dubbed the “Higher Education Acceleration Transformation Project,” this transformative initiative aims to foster regional and global collaborations, elevate research and innovation within the higher education landscape, and break down barriers to quality tertiary education, particularly for women.
The signing ceremony, held in the presence of Raiser, witnessed the participation of Sharifa Khan, Secretary of the Economic Relations Division, representing the Government of Bangladesh, and Abdoulaye Seck, World Bank Country Director for Bangladesh and Bhutan, representing the World Bank itself.
As Bangladesh strives to surmount adversities on its path to economic prosperity, the World Bank’s resolute support and strategic partnership continue to serve as pillars of strength, empowering the nation to overcome obstacles, drive sustainable growth, and foster inclusivity for all its citizens.
