Govt, WB sign $250mn deal to create jobs

Staff Correspondent

11 January, 2019 12:00 AM printer

The government has signed a US$250 million development policy operation agreement with the World Bank to support the country’s reform efforts to create large-scale, better-paid and inclusive jobs.

Economic Relations Division Secretary Monowar Ahmed and World Bank Country Director for Bangladesh Qimiao Fan signed the agreement on behalf of the government and the World Bank respectively. Finance Minister AHM Mustafa Kamal attended the programme as the chief guest, said a press statement.

The Programmatic Jobs Development Policy Credit—the first of a series of three planned operations—will help Bangladesh build a stronger policy and institutional framework to create faster and more inclusive jobs for citizens, including women, youth, overseas migrants and vulnerable members of the population.

“Jobs are cornerstone for development. Bangladesh needs to create more and better jobs, particularly in the manufacturing sector to achieve its growth aspirations,” said Qimiao Fan, World Bank Country Director for Bangladesh, Bhutan and Nepal.

“This program will support reforms that will address key challenges in creating inclusive and quality jobs. This will help the government implement policies to modernise trade, stimulate investment, strengthen social protection systems for workers and help vulnerable people access jobs.” Said Qimiao Fan.

“The Seventh Five Year Plan, Vision 2021 and the electoral pledge ‘Bangladesh on the March to Prosperity’ have identified creating quality and inclusive jobs as a priority for the country,” said Monowar Ahmed.