** Influentials hamper reform process : Economists ** BNP announces march prog on February 11 ** Probe alleged enforced disappearances ** Stolen device worth Tk 47 lakh recovered ** Spy balloon row: High-altitude spying marks new low for US-China ties ** 642 killed in road accidents in January: JKS ** Buriganga River, the lifeline of Dhaka city, suffers from a terrible pollution problem. Every day chemical and household waste, sewage, medical waste, and mountains of plastic continue to pollute Buriganga. Besides, hundreds of plastic recycling factories have been built on both sides of the river. This photo taken on Saturday shows, recycled plastic is being dried in the sun along the banks of the river. Agency photo ** Prisoner dies after being sent to Pabna jail ** FBI searches Biden’s vacation home ** Messi acknowledges Bangladesh's love ** Infection found in 28 districts ** 2 US officials to visit Dhaka this month ** Book Fair sees huge crowd on weekend ** Adani’s $108b crisis shakes investors’ faith in India ** BNP's divisional rallies today ** Shell reports highest profits in 115 years ** Dhaka, Colombo seek greater cooperation through promoting shipping, air connectivity ** People’s sufferings do not move this government ** BERC jacks up LPG price by Tk 266 per 12kg cylinder ** Many motorcyclists chose to ride on the footpaths of Shaheed Tajuddin Ahmed Sarani amid severe traffic congestion in the capital on Thursday, disrupting movement of pedestrians. Agency photo ** A mushroom cultivator plants mushrooms in polythene bags stuffed with sawdust, wheat husk and jute sticks inside a shade made of cogon grass, bamboo in Natore's Jugipara area on Thursday. NN photo ** Export earnings rise by 5.89pc in Jan ** ‘DCs, UNOs run country’ ** Missing B’baria by-polls candidate Asif returns home ** HAAB announces Tk 6.72 lakh private hajj package **

WB reaffirms strong support for Bangladesh

23 January 2023

Staff Reporter :
World Bank (WB) Managing Director for Operations Axel van Trotsenburg has reaffirmed the bank's strong support for Bangladesh as he marked the 50th anniversary of fruitful partnership.
"Bangladesh has made tremendous strides, transforming from one of the world's poorest countries at independence in 1971 to a lower middle-income country in 2015," said van Trotsenburg.
He said, "The World Bank is proud to be part of this journey as one of Bangladesh's first development partners and we have learned a lot from each other about how development works."
The WB MD joined the celebration to mark the 50 years of the partnership between Bangladesh and the World along with Bangladesh's Finance Minister AHM Mustafa Kamal as well as the World Bank Vice President for South Asia Martin Raiser on Sunday.
They inaugurated a photo exhibition depicting the country's remarkable progress over the past five decades and joined a panel discussion. The events provided an opportunity to recognize the country's remarkable development achievements and to look forward to realising the country's vision to become an upper-middle-income country by 2031.
"Bangladesh, as many other countries in the world, is coping with unprecedented global shocks," said van Trotsenburg.
 "We are committed to supporting the country through uncertainties and challenges created by the Covid-19 pandemic, the Russian invasion of Ukraine, and increasing impacts of climate change as the country moves forward to achieve its development goals," van Trotsenburg added.
In the five decades of this remarkable journey, the World Bank remained a steadfast partner of Bangladesh.
In August 1972, Bangladesh became a member of the World Bank Group. In November 1972, the first World Bank project for Bangladesh, a $50 million Emergency Recovery Credit was approved to help the war-torn nation to rebuild the transport and communication, agriculture, and industry sector with some support to the construction and power sector. At the same time, the World Bank reactivated four more projects that had been approved before the liberation war.
Since then, the World Bank has committed about $39 billion in International Development Association (IDA) financing in the form of grants, interest-free loans, and concessional credits to help the country overcome its development challenges. With about $15.3 billion in financing for 53 ongoing projects, currently Bangladesh has the largest ongoing IDA programme, and the World Bank is Bangladesh's largest development partner.

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