World Bank reaffirms strong support for inclusive growth in Bangladesh-Xinhua

World Bank reaffirms strong support for inclusive growth in Bangladesh

Source: Xinhua| 2024-02-26 23:56:30|Editor: huaxia

DHAKA, Feb. 26 (Xinhua) -- World Bank Managing Director for Operations Anna Bjerde has reiterated the World Bank's strong support to help Bangladesh achieve its vision of upper-middle income status by 2031.

Deep macroeconomic and financial sector reforms are needed urgently to sustain inclusive growth, Bjerde said on Sunday when she concluded her first visit to Bangladesh.

"Fast and bold reforms in monetary and fiscal policies will enable Bangladesh to maintain macroeconomic stability, reduce financial sector risks, and sustain inclusive growth amid global uncertainties," she added.

The World Bank will continue supporting Bangladesh to create jobs, develop a robust private sector, attract investment, and build resilience to climate shocks and future crises while ensuring that no one is left behind, Bjerde said.

The World Bank was among the first development partners to support Bangladesh after its independence. Since then, the Bank has committed more than 41 billion U.S. dollars to Bangladesh, mostly in grants or concessional credits.

Bangladesh has the largest ongoing program supported by the World Bank Group's International Development Association.