World Bank VP visits Bangladesh, expresses commitment to job creation 

Today marked the end of a three-day visit to Bangladesh by World Bank Vice President for South Asia Johannes Zutt, who met with government officials, civil society groups, and senior leadership.

“The government places a high priority on large-scale job creation, alongside skills and investment, and the World Bank Group shares this commitment,” said Zutt.

In this context, we are stepping up our focus on supporting the government priority of creating jobs, notably for youth and women.” he added.

Zutt met with the Finance and Planning Minister, Commerce Minister, Prime Minister’s Adviser on Finance and Planning, and the Bangladesh Bank Governor to discuss the government’s development priorities and the areas in which the World Bank Group can help, said a World Bank press release today.

“In the past decade, 14 million youth entered Bangladesh’s labor market, competing for only 8.7 million jobs. This means that nearly half of working-age youth did not find jobs. Young women face particularly steep barriers. With global uncertainties rising, it is urgent for the government to undertake the long-pending macro-economic and financial sector reforms that are needed to address foundational bottlenecks to economic growth and job creation,” Zutt added. 

The World Bank Group is assisting nations in developing economies that translate economic growth into local employment—not by transferring jobs from industrialized nations, but rather by creating opportunities where people currently reside.

The World Bank Group fosters a business-friendly climate, mobilizes private resources, and makes investments in the fundamental human and physical infrastructure for jobs in order to accelerate job creation at scale.

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 in the form of grants, interest-free loans, and concessional credits to help the country address its development priorities.