Economic Reporter :
The World Bank (WB) Group has endorsed a new Country Partnership Framework (CPF) to help Bangladesh achieve its vision of reaching middle-income country status by 2021 from the current lower-middle income rank.
The CPF for 2016 to 2020 will help the country reduce poverty and boost shared prosperity, the WB said in a statement on releasing the CPF in Washington DC on Tuesday.
To prepare the CPF, the World Bank Group held two rounds of extensive countrywide and online consultations with major stakeholders, including the government, the private sector, civil society, think tanks, academia, media, and other development partners.
Identifying job creation as a prerequisite for reducing poverty and accelerating growth, the CPF aims at helping the country create more and better jobs for 2.1 million youths entering the job market every year.
The CPF will also support the country address key impediments to higher and sustainable growth, with keeping its policy and strategies aligned with the government’s seventh Five Year Plan and the Bank Group’s Systematic Country Diagnostic (SCD) for Bangladesh, which offers a comprehensive analysis of the country’s development challenges.
The SCD identified five transformational priorities where a concerted effort could have the greatest impact on sustainable growth and job creation in the next three to five years. These include energy, inland connectivity, regional and global integration, urbanisation, and adaptive delta management.
The SCD also draws attention to foundational priorities such as macroeconomic stability, human development, and institutional and business environment, where Bangladesh is doing fairly well and would benefit from continued strong performance in these areas.
Guided by these priorities and building on a strong existing partnership, the CPF proposes a robust programme of technical and financial support focusing on three broad objectives, including accelerating growth, fostering social inclusion, and strengthening climate and environmental management.
The World Bank (WB) Group has endorsed a new Country Partnership Framework (CPF) to help Bangladesh achieve its vision of reaching middle-income country status by 2021 from the current lower-middle income rank.
The CPF for 2016 to 2020 will help the country reduce poverty and boost shared prosperity, the WB said in a statement on releasing the CPF in Washington DC on Tuesday.
To prepare the CPF, the World Bank Group held two rounds of extensive countrywide and online consultations with major stakeholders, including the government, the private sector, civil society, think tanks, academia, media, and other development partners.
Identifying job creation as a prerequisite for reducing poverty and accelerating growth, the CPF aims at helping the country create more and better jobs for 2.1 million youths entering the job market every year.
The CPF will also support the country address key impediments to higher and sustainable growth, with keeping its policy and strategies aligned with the government’s seventh Five Year Plan and the Bank Group’s Systematic Country Diagnostic (SCD) for Bangladesh, which offers a comprehensive analysis of the country’s development challenges.
The SCD identified five transformational priorities where a concerted effort could have the greatest impact on sustainable growth and job creation in the next three to five years. These include energy, inland connectivity, regional and global integration, urbanisation, and adaptive delta management.
The SCD also draws attention to foundational priorities such as macroeconomic stability, human development, and institutional and business environment, where Bangladesh is doing fairly well and would benefit from continued strong performance in these areas.
Guided by these priorities and building on a strong existing partnership, the CPF proposes a robust programme of technical and financial support focusing on three broad objectives, including accelerating growth, fostering social inclusion, and strengthening climate and environmental management.
