Martin Raiser, the vice president of the World Bank for the South Asia Region (SAR), is arriving in Dhaka on his first trip to Bangladesh. According to a press release from the World Bank Dhaka office, he is arriving in the city today on a three-day visit.
Raiser will meet Finance Minister AHM Mustafa Kamal and senior government officials during his visit. In these meetings, there will be discussions on getting development priority-based assistance in Bangladesh. According to a news release, he will also talk with the development partners, business executives, members of civil society, and representatives of think tanks.
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The World Bank VP commended Bangladesh’s excellent economic growth and development. “Bangladesh has made impressive achievements in development strides and economic growth. The World Bank is proud to be a partner in this remarkable journey for the past 50 years.”
He added, “As the countries in South Asia grapple with a multitude of shocks from Covid to climate change and rising global inflation, I look forward to learning about Bangladesh’s experience in building resilience.”
The position of World Bank Vice President for the South Asia Region was taken up by German national Martin Raiser on July 1. He previously held the position of country director for China, Mongolia, Korea, Brazil and Turkey.
World Bank is one of the earliest development partners to assist Bangladesh after its independence. According to World Bank, the organization has since given Bangladesh more than $37 billion in grants, interest-free loans, and concessional credits.
The World Bank is also the largest donor for Bangladesh among the multilateral organizations. The Asian Development Bank accounted for 39% of Bangladesh’s total multilateral debt, while its concessional IDA financing made up 55% of the overall multilateral loan category.
The World Bank offers financial assistance to Bangladesh in addition to assisting with development projects. For budget support to handle economic strain, Bangladesh has already asked the World Bank for roughly $100 million. This can also be discussed with the Vice President of the World Bank in his visit in Dhaka this time.