WB assures full support to Dhaka

The World Bank stands ready to help Bangladesh navigate through the current economic challenges brought on by the Russia-Ukraine war, and achieve resilient and inclusive growth, said its South Asia chief.

On the other hand, Prime Minister Sheikh Hasina said Bangladesh wants to maintain an open and transparent relationship with the multilateral lender.

She made the statement when Martin Raiser, vice-president for World Bank South Asia region, and Abdoulaye Seck, its newly appointed country director, called on her at her office yesterday.

Ihsanul Karim, PM's press secretary, briefed reporters after the meeting.

After the meeting, WB in a release said, "The war in Ukraine, the impacts of the Covid pandemic, and the climate crisis have created unprecedented challenges for the global economy."

"Every country is struggling to cope, and Bangladesh is no exception," said Raiser.

Bangladesh can sustain rapid growth by strengthening the macro, fiscal and financial sector reforms and continuing investment in human capital and climate resilience.

"We are ready to lend our full support to these efforts at this challenging time," he also said after meeting Hasina.

Raiser thanked Hasina for the country's leading role in climate change adaptation and disaster preparedness.

"The World Bank is proud to be a part of Bangladesh's tremendous development journey for the past 50 years.

"Bangladesh provides valuable insights and important lessons in rapid poverty reduction and sustained growth for many other countries around the world," said Raiser after concluding his second visit to Dhaka after assuming the role in July.

During his three-day visit, Raiser also met Finance Minister AHM Mustafa Kamal and Bangladesh Bank Governor Abdur Rouf Talukder and discussed policy measures to mitigate recent global shocks and build economic resilience.

They also discussed the WB's support for Bangladesh's development priorities.

He was accompanied by Abdoulaye Seck, the WB's incoming country director for Bangladesh and Bhutan, who will assume his position on January 1, 2023.

During the press briefing, Ihsanul Karim said the prime minister also requested the WB to take steps regarding the Russia-Ukraine war, which has been causing immense hardship across the globe.

Raiser described Bangladesh as a "success" in terms of development. "Bangladesh is one of the countries that has surprised the world with its impressive development."

He also noted that significant development took place under the leadership of Sheikh Hasina.

He lauded Bangladesh's successes in disaster management, saying that casualties in the country due to cyclones have lessened due to successful management capability.

The WB is working to ensure food security and providing surplus foods to countries with deficits to meet their needs, he added.

During the meeting with Hasina, Raiser handed over a photograph of former WB President Robert Strange McNamara with Father of the Nation Bangabandhu Sheikh Mujibur Rahman at the Gono Bhaban taken on January 31, 1972.