Visiting World Bank Senior Vice President (Operations) Kyle Peters on Thursday pledged enhanced support for Bangladesh’s efforts to reform its economy saying these efforts will spread prosperity faster to the country’s people.“Bangladesh has achieved a steady economic growth and lifted more than 16 million people out of poverty in the last decade,” he said praising Bangladesh’s development progress.
Peters said Bangladesh will need sustained reform efforts for further advancement and the World Bank Group is committed to working together with the government to help the country grow faster and bring prosperity to all citizens.
During his visit that concluded on Thursday, Peters met, among others, senior government officials, including the Finance Minister, the International Affairs Advisor to the Prime Minister, and the Bangladesh Bank Governor.
He discussed the preparation of the World Bank’s Country Partnership Framework for Bangladesh and sought feedback on how the World Bank’s support can be best aligned with the country’s priorities.
The framework will guide the World Bank’s engagement in Bangladesh in the 2016-20 financial years and will be aligned with the government’s 7th five-year plan.
Peters stressed that Bangladesh needs to take full advantage of the large number of young people entering its workforce each year. “Around 2 million youths are entering the job market every year in Bangladesh.”
The World Bank will continue to help create more and better jobs through improving the quality of education and vocational training, addressing infrastructure bottlenecks, improving the business and investment climate, and deepening reform, he added.
“I am impressed by the people of Bangladesh, who are determined to make a change and create a better future for their children,” he said adding, “Bangladesh can become a leader in reducing poverty if the right policies are implemented.”