Bangladesh’s top development priority is more and better jobsStaff writer ▼ | April 7, 2016
The World Bank Group endorsed a new Country Partnership Framework (CPF) to help Bangladesh achieve its vision of reaching middle-income country status by 2021 from the current lower-middle income status.
Bangladesh Reaching middle-income country status by 2021
The CPF, discussed by the Bank Group’s Board of Executive Directors, will help Bangladesh create more and better jobs for the 2.1 million youths entering the job market every year.
The World Bank Group identified job creation as a prerequisite for reducing poverty and accelerating growth in Bangladesh. The Bank Group will help the country address key impediments to higher and sustainable growth.
The CPF is aligned with the government’s seventh Five Year Plan and the Bank Group’s Systematic Country Diagnostic (SCD) for Bangladesh, which offers a comprehensive analysis of the country’s development challenges.
The SCD identified five transformational priorities where a concerted effort could have the greatest impact on sustainable growth and job creation in the next three to five years — energy, inland connectivity, regional and global integration, urbanization, and adaptive delta management.
The SCD also draws attention to foundational priorities such as macroeconomic stability, human development, and institutional and business environment, where Bangladesh is doing fairly well and would benefit from continued strong performance in these areas.
Guided by these priorities and building on a strong existing partnership, the CPF proposes a robust program of technical and financial support focusing on three broad objectives—accelerating growth, fostering social inclusion, and strengthening climate and environmental management. ■