Bangladesh needs more inclusive growth to overcome extreme poverty, WB says

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Bangladesh has made commendable progress in it’s endeavor to make extreme poverty a part of its past. In 2011, the population suffering from extreme poverty totaled at 28 million, which was 16 million less than the previous decade; witnessing the graduation of three percent of the population from extreme poverty has propelled the nation to further economic growth with the inclusion of the impoverished.
The country’s endeavor has been noted by Qimiao Fan, theWorld Bank Country Director for Bangladesh, Nepal and Bhutan,“The fruit of Bangladesh’s development experience in innovations such as conditional cash transfers, gender equity in education, and successful family planning is being reflected in its notable reduction of poverty and improvement in the lives of its citizen.”
The country is still at the 64th position out of 154 countries and there is still much work that needs to be done in order to facilitate development; this includes greater attention to security, improved global trade and growth. The country also needs to maintain growth of economy and remittance, develop an advanced job fields, enhance transportation infrastructure and provide standard education and health.
In this context World Bank has significantly contributed to the improvement of the nation through International Development Association (IDA), which funds the world poorest countries. As the largest credit recipient, Bangladesh has currently received $23.78 billion from the poorest countries in the world.
World Bank President, Jim Yong Kim plans to visit Bangladesh during the upcoming month as a part of the End Poverty Day Campaign. He looks forward to witnessing the progress that the nation has made in terms of livelihood, women’s empowerment, and quality education. “Many developing countries in the world can learn important lessons from Bangladesh to reduce extreme poverty and to promote sustainable development.”

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