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Bangladesh needs to continue to execute its reform priorities under its national plans to maintain its growth trajectory and enhance macroeconomic stability amid uncertainties and rising inflation, said World Bank (WB) Vice President for South Asia Martin Raiser yesterday.
He made the comment on concluding his maiden three-day visit to Dhaka when he met with Finance Minister AHM Mustafa Kamal, Salman F Rahman, the prime minister’s private industry and investment adviser, and Bangladesh Bank Governor Abdur Rouf Talukder.
Raiser also talked to senior government officials and representatives from the private sector, civil society and development partners, said the international financial institution in a press release.
A German national, Raiser assumed his current role on July 1, 2022. He earlier served as country director for China, Mongolia, Brazil and Turkey and director of Korea.
Yesterday he said the WB was committed to helping Bangladesh remain on a sustainable and inclusive growth path.
In his meetings, Raiser discussed how the World Bank’s support can be best aligned to help Bangladesh realise its vision of being an upper-middle-income country by 2031.
Raiser said Bangladesh was a development success story in South Asia, and the World Bank was proud of being a partner in the country’s development journey for the past 50 years.
“We remain committed to helping Bangladesh achieve its growth aspirations. This will require timely policy actions to build strong public institutions, improve competitiveness, ensure climate resilience, and strengthen external and fiscal buffers,” he said.
Talking to the finance minister, Raiser commended the government for the rapid post-Covid recovery. They also discussed the global economic outlook and implications for economic policies.
The WB Group is preparing a new country partnership framework for Bangladesh, which will guide its support to the country from 2023-2027, said the statement.
World Bank has committed over $37 billion in International Development Association financing in the form of grants, interest-free loans, and concessional credits since Bangladesh’s independence.
With nearly $15.7 billion in financing for 55 ongoing projects, Bangladesh is the largest recipient of finances from the WB globally.
(TDS)
