The World Bank has reaffirmed its commitment to supporting Bangladesh's job-creation agenda, with a renewed focus on tackling unemployment among young people and women amid rising global economic uncertainty.
During a three-day visit to Dhaka, World Bank Vice President for South Asia Johannes Zutt held high-level meetings with government leaders, officials and civil society representatives, emphasising the need for long-delayed economic and financial sector reforms to unlock growth and expand employment opportunities.
"The government places a high priority on large-scale job creation, alongside skills and investment, and the World Bank Group shares this commitment," Mr Zutt said, concluding his visit on Tuesday.
"In this context, we are stepping up our focus on supporting the government's priority of creating jobs, notably for youth and women."
Mr Zutt met the Finance and Planning Minister, the Commerce Minister, the Prime Minister's Adviser on Finance and Planning, and the Governor of Bangladesh Bank to discuss the government's development priorities and areas where the World Bank Group can extend support.
"In the past decade, 14 million youth entered Bangladesh's labour market, competing for only 8.7 million jobs. This means that nearly half of working-age youth did not find employment. Young women face particularly steep barriers," he said.
"With global uncertainties rising, it is urgent for the government to undertake the long-pending macroeconomic and financial sector reforms needed to address foundational bottlenecks to economic growth and job creation," he added.
The World Bank Group is supporting countries in building economies that translate growth into local employment -- not by shifting jobs from developed economies, but by unlocking opportunities where people live.
To accelerate job creation at scale, the World Bank Group invests in foundational physical and human infrastructure, supports a business-friendly environment, and mobilises private capital.
The World Bank was among the first development partners to support Bangladesh following its independence and has committed more than $46 billion in International Development Association (IDA) financing, including grants, interest-free loans and concessional credits, to help the country address its development priorities.
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