Bangladesh global poverty reduction model: World Bank

The global lender also reiterates its commitment to help Bangladesh sustain high economic growth

DHAKA: The World Bank has reiterated its commitment to help Bangladesh sustain high economic growth, as the global lender's Vice President for South Asia Hartwig Schafer concluded a three-day visit to the country.

"Bangladesh has proved that with commitment and determination of the government and the people, a country can come out of poverty and emerge as a low middle-income country within only a span of four decades," Schafer was quoted as saying in a statement of the bank on Thursday.

To accelerate growth and reach the next level of development, he said, Bangladesh would need to create more and better jobs for its youth. “A robust private sector, conducive business climate, skilled labour force, efficient infrastructure along with the right policies and quick actions will be critical.”

During the visit, Schafer called on Prime Minister Sheikh Hasina at her office and commended Bangladesh's remarkable progress in economic development and poverty reduction.

They discussed the country's development priorities, and how the World Bank can support them to sustain the impressive results they have achieved in the past few decades, the communiqué added.

"The World Bank is committed to join Bangladesh on its journey to upper middle-income status, in close cooperation with the government, stakeholders, and development partners, and for the benefit of all people," Schafer said.