The World Bank Vice President for South Asia, Martin Raiser, has said the war in Ukraine, the impacts of the COVID pandemic, and the climate crisis have created unprecedented challenges for the global economy.

"Every country is struggling to cope, and Bangladesh is no exception,” said Raiser.

The World Bank Vice President said Bangladesh can sustain rapid growth by strengthening macro, fiscal and financial sector reform and continuing investment in human capital and climate resilience.

"We are ready to lend our full support to these efforts at this challenging time," said Raiser who concluded his second visit to Bangladesh on Monday.

Read: World Bank Vice President Martin Raiser arrives Saturday

He reaffirmed the World Bank's continued support to help the country navigate through the current economic challenges and achieve resilient and inclusive growth.

Raiser met Prime Minister Sheikh Hasina and thanked her for the country’s leading role in climate change adaptation and disaster preparedness.

“The World Bank is proud to be a part of Bangladesh’s tremendous development journey for the past 50 years. Bangladesh provides valuable insights and important lessons in rapid poverty reduction and sustained growth for many other countries around the world,” said Raiser.

Raiser also met Finance Minister AHM Mustafa Kamal and Bangladesh Bank Governor Abdur Rouf Talukder and discussed policy measures to mitigate recent global shocks and build economic resilience.

Read: Bangladesh wants open, transparent relationship with World Bank: PM

They also discussed the World Bank’s support for Bangladesh’s development priorities.

He was accompanied by Abdoulaye Seck, World Bank’s incoming Country Director for Bangladesh and Bhutan, who will assume his position on January 1, 2023.