B Mirror Report: The World Bank’s Vice President for South Asia, Johannes Zutt, wrapped up a three-day official visit to Bangladesh today, holding meetings with top government leaders, senior officials, and members of civil society.
During his visit, Zutt emphasized that the government is giving strong importance to generating large-scale employment, along with enhancing skills and boosting investment. He noted that the World Bank Group remains aligned with this objective.
“In line with this, we are intensifying our support to the government’s priority of job creation, particularly targeting youth and women,” he said.
According to a World Bank press release issued today, Zutt held discussions with the Finance and Planning Minister, Commerce Minister, the Prime Minister’s Adviser on Finance and Planning, and the Governor of Bangladesh Bank. The talks focused on the country’s development agenda and areas where the World Bank Group can extend its support.
Highlighting labor market challenges, Zutt pointed out that over the past decade, around 14 million young people joined Bangladesh’s workforce, while only 8.7 million jobs were created. As a result, nearly half of the working-age youth remain without employment, with young women facing even greater challenges.
He also stressed that amid growing global uncertainties, it is crucial for Bangladesh to implement long-awaited macroeconomic and financial sector reforms to remove structural barriers to growth and employment generation.
The World Bank Group continues to support countries in building economies that translate growth into local job opportunities by unlocking potential within domestic markets rather than shifting jobs from developed nations.
To boost large-scale employment, the organization is investing in essential physical and human infrastructure, promoting a business-friendly climate, and encouraging private sector investment.
The World Bank has been a key development partner of Bangladesh since its independence, committing over $46 billion in financing through grants, zero-interest loans, and concessional credits to support the country’s development goals.
