World Bank Group President Jim Yong Kim arrives in Dhaka tomorrow (Oct 16) to see firsthand the progress Bangladesh has made in transitioning to a lower-middle income country, despite development challenges.
During the two-day visit, Kim is scheduled to 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, said a press release issued in Dhaka today.
It said Bangladesh achieved the success 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.
“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,” Kim said.
“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.”
During his visit, Kim is scheduled to meet Prime Minister Sheikh Hasina and Finance Minister AMA Muhith and other senior government officials for broad ranging discussions on the country’s development progress and explore opportunities to deepen the World Bank’s engagement.
He would also meet with civil society representatives and private sector leaders. He will visit several World Bank-supported projects in Bangladesh.
Going forward, the World Bank Group remains committed to continue working with Bangladesh to achieve its development goals.
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.