Dhaka, 04 November 2007 – The World Bank is preparing to assist Bangladesh address the looming challenge of adapting to climate change and to help the country’s citizens, especially the poorest, develop the skills they need to engage more competitively in the global marketplace, said President Robert B. Zoellick. “Bangladesh has made significant economic and social gains since the 1990s,” said Zoellick. “Its human development achievements have been remarkable in reaching a number of the Millennium Development Goals. But as it faces the future, Bangladesh is particularly vulnerable to the impacts of climate change on the one hand and is challenged to develop a competitive workforce on the other.” The World Bank Group was already engaged in helping the country address both these important issues, he said, referring to a coastal zone development project in the planning stages and a vocational training program now under development. Tackling these challenges smartly and in a way attractive to private sector financing and partnership would be critical to managing Bangladesh’s long-term future. Zoellick also noted the importance of efforts by the current caretaker government to address persistent corruption: “Fighting corruption openly and transparently – and doing it in a way that is consistent with the rule of law and basic fairness – is not only the right thing to do but is critical for sustainable growth.” During his two-day visit he met with Dr. Fakhruddin Ahmed, Chief Advisor of the Caretaker Government and Dr. Mirza Md. Azizul Islam, Finance Advisor. Zoellick said he particularly appreciated the government’s recent undertakings to separate the powers of the judiciary and the executive, and progress on the anti-corruption commission, the public service commission and a new regulatory reforms commission. These and other important reforms in areas of macroeconomic management, banking, the power sector, the business environment and the management of ports and infrastructure were all important underpinnings of sustaining the levels of growth needed for Bangladesh to address the poverty of around 60 million citizens. Zoellick also discussed rising global fuel and food prices and the impact on the local economy, particularly the most vulnerable people. The Bank is currently preparing a social protection project designed to strengthen safety nets for those in most distress during times of economic hardship.
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“It was important for me to visit Bangladesh early in my tenure as World Bank Group President to listen and to understand how we can better support the country’s important development agenda,” said Zoellick. “It is clear that we can more effectively leverage the different parts of the Bank group using our International Finance Corporation to help bring the private sector to the table while our concessional lending focuses on social and poverty programs.” To better appreciate the challenges of the private sector in Bangladesh, Zoellick visited Dhaka Export Processing Zone at Savar where Japanese, Hong Kong and Korean investors highlighted to him the need for skilled labor and infrastructure and logistics improvements in Bangladesh’s eight EPZs. He heard similar messages in a roundtable discussion with representatives of Bangladesh’s business community who named infrastructure, skills shortages, and policy consistency and transparency among the major constraints facing their enterprise. Zoellick also met with Nobel Peace Prize winner Dr. Mohamed Yunus to learn about his work with micro-credit and to urge Grameen Bank to extend its help to the country’s poorest citizens.
Contacts:
In Dhaka :S.M.Rezwan-ul-Alam (880-2) 8159001 Ext. 4242
E-mail: salam3@worldbank.org
In Washington: Erik Nora (202) 458 4735
E-mail: enora@worldbank.org
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