BD, WB working together to end extreme poverty

October 26, 2015 Off By Web Desk

DHAKA: World Bank Senior Vice President, Operations, Kyle Peters arrives in Dhaka today to further deepen the long-lasting partnership between Bangladesh and the World Bank Group.

“Bangladesh is globally recognized for its remarkable progress in reducing poverty, despite daunting challenges,” Peters said. “I look forward to discussing Bangladesh’s rich development experience, from which other countries can learn.”

“Bangladesh still faces many challenges, and its people want to do better,” he said. “As we are preparing the Country Partnership Framework for Bangladesh, we will explore how the World Bank Group can work closely with the government to make economic development more inclusive and address the bottlenecks hindering growth.“

During the two-day visit, Peters will meet with senior government officials, including the Finance Minister, as well as private sector and civil society leaders. He will also visit several World Bank-supported projects in Bangladesh.

Bangladesh is the largest recipient of support from the International Development Association (IDA), the World Bank’s fund for the poorest countries. In the 2015 financial year, the World Bank committed $1.9 billion in new financing to advance Bangladesh’s development agenda. The World Bank’s current IDA portfolio in Bangladesh stands at nearly $8.3 billion with 36 projects.

Disaster risk reduction is indeed an undertaking of mutual assistance. This Forum is seen as a collaborative effort to lay the groundwork for building an investment framework for risk reduction and management programs for the Central Asian countries. The expected outcomes of the two day discussions and the proceedings will serve as a basis for follow-up projects and initiatives.