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22 September 2023

Business Insider Bangladesh

WB can showcase Bangladesh’s progress as a global success story: Momen

BI Report || BusinessInsider

Published: 19:21, 26 January 2023  
WB can showcase Bangladesh’s progress as a global success story: Momen

Photo: Courtesy

Foreign Minister Dr AK Abdul Momen has said that the World Bank can now showcase the tremendous socio-economic development of Bangladesh as an international success story.

The foreign minister made the remark during a meeting with Martin Raiser, vice-president, South Asia Region of the World Bank, at the Ministry of Foreign Affairs in Dhaka on Thursday.

During a recent visit, WB Managing Director for Operations Axel van Trotsenburg said Bangladesh’s development and growth trajectory is an inspiration for many countries.

Bangladesh has tackled many development challenges in remarkable ways and it has reduced poverty in record time and has played a leading and innovative role in disaster risk management and adaptation to climate change, he said after wrapping up his three-day visit on Tuesday.

Echoing the remarks, Momen said the World Bank can showcase Bangladesh’s socio-economic development as an international success story to mark the 50th anniversary of Bangladesh’s partnership with the Bank.

Martin Raiser also appreciated Bangladesh’s achievements in sustainable development and reaffirmed the global lender’s readiness to support the country make the next transition in its development journey.

In response the foreign minister invited the WB to invest further in climate-smart infrastructures, especially for widening and heightening embankments along the coastal belt.

Momen also shared his ideas about coastal afforestation and renewable energy generation based on such embankments.

The WB vice-president flagged that 35 percent of the Bank’s current International Development Association contribution to Bangladesh maintains a focus on enhancing the country’s resilience to climate change impacts.

He responded positively to Momen’s suggestion to explore possible partnership with the Global Hub for Locally-Led Adaptation, recently launched under the aegis of the Global Centre on Adaptation (GCA)’s regional office based in Dhaka.

Raiser acknowledged the generosity of the government and people of Bangladesh in hosting the forcibly displaced Rohingya from Myanmar.

He reiterated the Bank’s interest in supporting improved living conditions and education of the Rohingya population pending their safe and dignified return to Myanmar.

Momen briefed him about the arrangements by the government in Bhashan Char for the relocated Rohingya, and suggested that the Bank look into possibilities for its engagements in the island.

Momen also urged the WB to continue work towards supporting the national efforts at poverty alleviation, with focus on reducing extreme poverty.

He suggested further scaling up the World Bank’s work on human resource development, while the WB vice-president referred to the Bank’s signature contribution to primary and pre-school education in Bangladesh.

The WB expressed particular interest in supporting integration of vocational training as part of formal education.

Momen underscored the need for the international community’s support towards making Bangladesh’s LDC graduation smooth and sustainable.

The World Bank’s Country Director for Bangladesh Abdoulaye Seck was also present at the meeting.