World Bank (WB) Managing Director for Operations
Axel van Trotsenburg today concluded a three-day visit to Bangladesh,
reaffirming the World Bank’s strong support for Bangladesh to help achieve
its vision of upper-middle income status by 2031.

He marked the commemoration of the 50 years of partnership between the World
Bank and Bangladesh.

“Bangladesh’s development and growth trajectory is an inspiration for many
countries. It has tackled many development challenges in remarkable ways. It
has reduced poverty in record time and has played a leading and innovative
role in disaster risk management and adaptation to climate change,” said van
Trotsenburg.

He said the World Bank has been a steadfast partner for the past five decades
and remains committed to help Bangladesh achieve green and inclusive economic
growth and development, said a press release here.

Yesterday, van Trotsenburg met Prime Minister Sheikh Hasina and commended
Bangladesh’s role in climate change adaptation and disaster preparedness, and
her strong leadership as the chair of the Climate Vulnerable Forum during
2020-2022.

“Despite being severely affected by climate change, Bangladesh has emerged as
a global leader in climate resilience and disaster preparedness by taking a
bold and innovative approach reducing cyclone-related deaths more than 100-
fold since 1971,” van Trotsenburg added.

The World Bank helped Bangladesh build and rehabilitate more than 700 km of
coastal embankments, 1,000 cyclone shelters that also operate as schools, and
550 km of paved roads that improve access for surrounding villages.

Today, van Trotsenburg visited a World Bank-financed cyclone shelter that
serves as a primary school during normal weather and met with the local
communities.

He visited the Kutupalong Rohingya camps in Cox’s Bazar and thanked
Bangladesh for its generosity to provide shelter to about 1.1 million
forcibly displaced Rohingya people. The World Bank has leveraged US$590
million in grant financing to help Bangladesh meet to the basic needs of the
Rohingya people and the host communities.

During the visit, he also met with the finance minister, senior government
officials, and development partners and discussed Bangladesh’s development
priorities. He was accompanied by World Bank Vice-President for the South
Asia Region Martin Raiser.

“The World Bank is helping Bangladesh navigate through challenges of global
shocks, including the impacts of the pandemic and the Russian invasion of
Ukraine, and address barriers to higher growth,” van Trotsenburg said.

He also said that they are committed to supporting Bangladesh in its goal to
become an upper-middle income country by 2031. For this, we will help create
more private sector jobs, improve social and economic inclusion, and reduce
climate vulnerability.

Over the 50-year partnership, the World Bank has committed about US$39
billion in International Development Association (IDA) financing in the form
of grants, interest-free loans, and concessional credits to help the country.

Currently, Bangladesh has the largest ongoing IDA programme and the World
Bank is Bangladesh’s largest development partner.