World Bank reaffirms commitment to Bangladesh’s recovery from Covid-19: Schafer

World Bank Vice President for South Asia Hartwig Schafer has reaffirmed the bank's commitment to the country's resilient and inclusive recovery from the Covid-19 pandemic.

He came up with the confirmation during a week-long visit to Bangladesh, that concluded today, said a press release.

Schafer met with the finance minister and commended the government's measures to contain the Covid-19 pandemic and its focus on an inclusive economic recovery. He also noted the strong role the prime minister played at the recent COP26 meeting.

"The resilience of Bangladesh's people and the economy is striking. The Covid-19 pandemic hit the country hard, but the government's proactive measures have largely contained the virus and the economy has started to turn around," said Schafer.

"The World Bank is committed to helping Bangladesh remain on a sustainable growth path, which will require timely policy actions to build strong public institutions, a robust private sector and conducive business climate, and a skilled labour force, and at the same time focus on climate resilience," he added.

The World Bank Group is beginning the preparation of its new Country Partnership Framework (CPF) for Bangladesh, which will guide its support to the country from 2023-2027.

"Bangladesh is an inspiring development success story," said Schafer. "As the country works to become an upper-middle-income country by 2031, the World Bank will be there every step of the way on a path to economic growth that is greener, more resilient, and more inclusive for the people of Bangladesh".