World Bank MD: Trotsenberg will provide more support to Bangladesh

World Bank Managing Director Axel van Trotsenberg is scheduled to return tonight after a three-day visit to Bangladesh. He visited Bangladesh to celebrate 50 years of partnership between the World Bank and Bangladesh.

During the visit, he met with Prime Minister Sheikh Hasina, some ministers and high-level officials of the government. In these meetings, the World Bank MD assured Bangladesh of more such assistance in the future.

This information was stated in a press release sent from the Dhaka office of the World Bank on Tuesday (January 24).

Also Read: The schedule for the presidential election was announced on Wednesday

According to the notification, the managing director of the organization has reaffirmed the strong support of the World Bank to Bangladesh from being established as an upper-middle income country by 2031. Bangladesh's development and growth trajectory is an inspiration to many countries. It has faced many development challenges in a significant process. Bangladesh squandered the misery in record time. It has also played a pioneering and innovative role in disaster risk management and climate change adaptation. The World Bank has been a steadfast partner for the past five decades and is committed to helping Bangladesh achieve inclusive economic growth and development.

According to the circular, Van Trotsenberg met Prime Minister Sheikh Hasina yesterday. He appreciated Bangladesh's contribution to climate change adaptation and disaster preparedness and Prime Minister's strong leadership as President of the Climate Risk Forum during 2020-2022.

Read more: Parliament passes Universal Pension Bill

Despite being severely affected by climate change, Bangladesh has emerged globally in climate resilience and disaster preparedness by adopting bold and innovative approaches to reduce cyclone-related deaths by more than 100-fold since 1971, Van Trotsenberg said. The World Bank has supported Bangladesh in the construction and rehabilitation of over 700 km of coastal embankments. 1,000 cyclone shelters which also serve as schools and 550 km of paved roads which are contributing to the communication system of the surrounding villages.

Van Trotsenberg visited the World Bank-funded cyclone shelter. Which is normally used as a primary school. Besides, he visited Kutupalong Rohingya camp in Cox's Bazar. He thanked Bangladesh for its generosity in providing shelter to around 1.1 million displaced Rohingyas. The World Bank has financed a grant of 590 million to help Bangladesh meet the genuine needs of the Rohingya population and host communities.

During the visit, he met with the Finance Minister, senior government officials, development partners and discussed Bangladesh's development priorities. He was accompanied by Martin Riser, Vice President of the World Bank's South Asia Region.

Van Trotsenberg said the World Bank is supporting Bangladesh to face the challenges of global shocks, including the impact of the pandemic and Russia's aggression in Ukraine. Besides, it is helping to overcome the challenges in the way of peak growth. We are committed to supporting Bangladesh to become an upper-middle income country by 2031. To this end, we will further support private sector job creation, improve social and economic inclusion and reduce climate risks.