World Bank (WB) President Jim Yong Kim has declared an additional $1 billion of funds for our country. The funds are to be utilized for developing child care and the country’s infrastructure as it gets disbursed over 2 years. This information was released after the meeting took place with the Finance Minister, Abul Maal Abdul Muhith at the Secretariat on the morning of the 17th of October through a joint press statement.
“Bangladesh has had remarkable success in cutting the number of people living in poverty by almost half and its innovations are well known – many countries have learned from them,” says Kim. “I am eager to hear how the World Bank Group can work with Bangladesh to promote private sector investment by strengthening governance and improving the investment climate. There is also much to do by increasing investment in infrastructure, human development, and climate change.”
Visiting World Bank president Jim Yong Kim held a meeting with Finance Minister Abul Maal Abdul Muhith at the Secretariat today. Host of Issues were During the two-day visit, Kim will join a public event to mark End Poverty Day to celebrate Bangladesh’s achievements in lifting more than 20 million people out of poverty in less than two decades with its strong economic performance, innovative work with the poor, job creation by the private sector, consistent investment in human development, and effective disaster management.
It is mention worthy that the International Development Association (IDA), the World Bank Group’s fund for the poorest countries, has provided more than $24 billion in support to Bangladesh since 1972 to advance the country’s development priorities, making the country the largest recipient of IDA. Its private sector arm, IFC, has a committed portfolio of $1 billion and MIGA has $305 million in gross exposure in Bangladesh. The continued partnership of the World Bank Group will help Bangladesh build on its successes to end extreme poverty and boost shared prosperity.
Finance Minister AMA Muhith received the WB President at the Shahjalal International Airport on Sunday afternoon, while Economic Relations Division Secretary Mohammad Mejbahuddin and World Bank Country Director for Bangladesh Qimiao Fan and other officials were also present.
