World Bank Managing Director for Operations Axel van Trotsenburg on Tuesday reaffirmed the World Bank’s strong support for Bangladesh to help achieve its vision of upper-middle income status by 2031. He came to Dhaka on Saturday on a three-day visit, marking  the 50 years of partnership between the World Bank and Bangladesh. He said Bangladesh’s development and growth trajectory is an inspiration for many countries, according to a press release. “It has tackled many development challenges in remarkable ways. It has reduced poverty in record time and has played a leading and innovative role in disaster risk management and adaptation to climate change,” said van Trotsenburg. “The World Bank has been a steadfast partner for the past five decades and remains committed to help Bangladesh achieve green and inclusive economic growth and development.” Read more: ‘World Bank should support countries hit hard by Covid-19, Russia-Ukraine war, climate change’ On Monday, van Trotsenburg met Prime Minister Sheikh Hasina and commended Bangladesh’s role in climate change adaptation and disaster preparedness, and the Prime Minister’s strong leadership as the chair of the Climate Vulnerable Forum during 2020-2022. “Despite being severely affected by climate change, Bangladesh has emerged as a global leader in climate resilience and disaster preparedness by taking a bold and innovative approach reducing cyclone-related deaths more than 100-fold since 1971,” he added. The World Bank helped Bangladesh build and rehabilitate more than 700 km of coastal embankments, 1,000 cyclone shelters that also operate as schools, and 550 km of paved roads that improve access for surrounding villages. Read more: World Bank a key partner of Bangladesh’s economic growth: Finance Minister Today, van Trotsenburg visited a World Bank-financed cyclone shelter that serves as a primary school during normal weather and met with the local communities. He visited the Kutupalong Rohingya camps in Cox’s Bazar and thanked Bangladesh for its generosity to provide shelter to about 1.1 million displaced Rohingya people. The World Bank has leveraged $590 million in grant financing to help Bangladesh meet to the basic needs of the Rohingya people and the host communities. During the visit, he also met the finance minister, senior government officials, and development partners and discussed Bangladesh’s development priorities. He was accompanied by World Bank Vice President for the South Asia Region, Martin Raiser. Read more: World Bank managing director to arrive in Dhaka Saturday “The World Bank is helping Bangladesh navigate through challenges of global shocks, including the impacts of the pandemic and the Russian invasion of Ukraine, and address barriers to higher growth,” Trotsenburg said. “We are committed to supporting Bangladesh in its goal to become an upper-middle income country by 2031. For this, we will help create more private sector jobs, improve social and economic inclusion, and reduce climate vulnerability.” Over the 50-year partnership, the World Bank has committed about $39 billion in International Development Association (IDA) financing in the form of grants, interest-free loans, and concessional credits to help the country. Currently Bangladesh has the largest ongoing IDA program, and the World Bank is Bangladesh’s largest development partner.

World Bank Managing Director of Operations Axel van Trotsenburg will arrive in Dhaka Saturday on his first official visit to Bangladesh. During his three-day visit, Axel will join a public event in Dhaka on January 22 to mark 50 years of the partnership between Bangladesh and the World Bank Group and celebrate the country's "remarkable" development achievements, said a media statement. "Bangladesh has shown the world what can be done to dramatically reduce poverty through successful innovations in human development, women’s empowerment, and climate adaptation," Axel said. Read more: Bangladesh wants low-interest loan from World Bank amid economic woes "The World Bank is proud of its 50-year partnership with Bangladesh and being part of the country's remarkable development journey. I look forward to my visit and to seeing these achievements firsthand." Axel will meet with the prime minister, finance minister, senior government officials, civil society representatives, and development partners, and visit the World Bank-supported projects. World Bank to provide US$300 million to help Bangladesh’s pandemic responseHe will be accompanied by Martin Raiser, World Bank vice-president for South Asia. Read more: