The World Bank (WB) identified law and order, uncertainty surrounding the next general election and weak financial sector as the three major downside risks to Bangladesh’s economy and development.

The share of unemployed tertiary-educated youth within the total unemployed population in Bangladesh increased to 27.8 percent in 2022 from 9.7 percent in 2013 as many struggled to find jobs that match their skills and educational qualifications, according to the latest World Bank (WB) report.

The WB said Bangladesh's economy is expected to grow by only 4 percent due to the uncertain impact of political protests and the ongoing transition in government

The government has identified a dozen slow-paced projects funded by the World Bank, from which up to $1.5 billion will be repurposed and utilised as budget support or in other policy-based reform programmes.

"There is much that low-income economies can -— and must -— do for themselves," the World Bank's deputy chief economist, Ayhan Kose, said in a statement

The loan announced on Monday, which follows an earlier $500 million World Bank loan after the 2022 economic crash

Bangladesh’s banking sector was not well-managed in recent years. Banks mostly gave loans to their owners, rather than to creditworthy entities. Consequently, several banks are now in difficulty.

World Bank (WB) Vice President for South Asia Martin Raiser affirmed the bank’s commitment to support critical reforms to promote inclusive and sustainable growth of Bangladesh

The World Bank (WB) is considering a $2 billion budget support for Bangladesh during the current fiscal year, according to the multilateral lender’s South Asia Region Vice President Martin Raiser

The World Bank will provide support in reforming banking and other sectors in Bangladesh, Finance and Commerce Adviser  Salehuddin Ahmed said on Thursday

It is unfortunate that the previous government fell short of its commitments to strengthen the banking sector.

Finance Adviser Salehuddin Ahmed says after meeting with ADB

These new financing operations will help Bangladesh in financial sector and urban management, says Abdoulaye Seck, World Bank country director for Bangladesh and Bhutan

She alleges that the development paradigm still reflects the colonial framework of power relationships.

Commodity prices are projected to experience a slight downturn in 2024 and 2025 but are expected to remain above pre-pandemic levels, according to the World Bank

Crisis-hit Sri Lanka will return to growth this year, the World Bank said Tuesday, but around a quarter of the country's citizens will remain living in poverty

Around 5 lakh people in Bangladesh likely fell into extreme poverty between the fiscal years 2022-23 and 2023-2024 due to the erosion of purchasing power, said the World Bank

The multilateral lender said the economy would grow at 5.6 percent in 2023-24, lower than the South Asian average of 6 percent for 2024. Annual GDP growth averaged 6.6 percent in the decade before the pandemic struck the world in 2020.

The government should come up with a clear guideline complying with the global best practices before compelling banks to merge, the World Bank has said.

The WB said before initiating any merger processes, detailed guidelines on mergers and acquisitions need to be issued, allowing banks a clear idea about the process involved