WB reaffirms support for inclusive, sustainable growth

The World Bank (WB) has reaffirmed its support for economic reforms that are critical for Bangladesh's inclusive and sustainable growth and development.

"The World Bank is supporting the government on a range of reforms to increase transparency and accountability in bank resolution and asset recovery, tax policy and revenue collection, procurement and auditing, and in strengthening the quality and independence of national statistics," said World Bank Vice President for South Asia Martin Raiser, who concluded his visit to Bangladesh on Thursday.

These reforms would help create a level playing field and boost business and people's confidence over the medium term, he said.

Raiser met Chief Adviser Professor Muhammad Yunus, reiterated the World Bank's commitment to the people of Bangladesh, and offered continuous support to create the foundations for economic stability, job creation, climate resilience, and improved public services, a press release of the global lender said.

He updated the chief adviser on the ongoing and planned World Bank support for Bangladesh.

The World Bank official also emphasised the importance of using this political transition period to advance improvements in governance and transparency that could lay the foundations for a fairer Bangladesh, the press release said.

It said new World Bank lending is being prepared to help with recovery from the September 2024 floods, ease the stresses in the energy sector, create a modern and well-targeted social assistance system, and address the growing air pollution in Dhaka.

During the visit, Raiser also met the finance adviser, the energy adviser, the Bangladesh Bank governor, the revenue board chairman, and representatives from the civil society and the private sector to discuss the pressing challenges and development priorities of the government.

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