Bangladesh, World Bank celebrate five decades of partnership

Dhaka, May 2 (UNI): Bangladesh Prime Minister Sheikh Hasina and World Bank Group President David Malpass on Tuesday commemorated 50 years of partnership at the institution’s headquarters.

The partnership has helped lift millions of Bangladeshis out of poverty and supported the country’s economic growth and development. The World Bank has provided Bangladesh with $2.25 billion of financing over the last year to improve regional connectivity, boost disaster preparedness to address inland flooding, transition to green and climate-resilient development, strengthen environmental management and green investment, and help the micro-enterprise sector become less polluting and more climate-resilient. According to Press statement from WB Dhaka office.

Since its independence in 1971, Bangladesh has transformed from one of the poorest countries to achieving lower-middle income status in 2015. The country is now among the world’s fastest-growing economies.

“In 1971, when Bangladesh was born, many development experts were skeptical about the country’s future. The aspirations germinated by our Father of the Nation Bangabandhu Sheikh Mujibur Rahman and, our people have shown the world that with determination, it is possible to overcome even the hardest challenges. Bangladesh has transformed its economy and made it more resilient as demonstrated during the COVID 19 pandemic,” said Sheikh Hasina.

“The journey was not always easy, but we have never lost courage. In the past 50 years, the World Bank remained a steadfast development partner and supported our aspirations. We hope to work together with the World Bank as Bangladesh progresses to achieve higher-income country status by 2041,” she added.

President Malpass reaffirmed the World Bank’s strong support for Bangladesh and its people as the country navigates unprecedented global challenges.