Update October 10, 2015

Dhaka 11-48 pm, 22-October, 2020

World Bank President praises Bangladesh

Mirajul Moin Joy

WB

World Bank President praises Bangladesh

10 October 2015, Nirapad News: The World Bank President Jim Yong Kim has singled out Bangladesh at the IMF-World Bank annual meetings as he praised the country for promoting women’s economic empowerment.

Speaking in Peru’s capital Lima late on Friday, the Harvard-trained physician said “countries should invest in women, which can be one of the most effective progrowth strategies by any government”.

“Countries such as Bangladesh are encouraging female participation in the workforce. If they stay on track, their female workforce will grow from 34 to 82 percent over the next decade, adding 1.8 percent to their GDP,” Kim said in a prepared speech at Lima Convention Centre.

“Closing the gender gap can raise incomes by 27 percent in the Middle East and North Africa, 19 percent in South Asia, and 14 percent in Latin America and the Caribbean,” 55-year old Kim said in his plenary address on “The lessons of Carabayllo: Making tough choices.”

“And research confirms something we all know – when women earn more money, they invest in their families’ education and health,” he added.

The head of the global financial watchdog lauded Bangladesh in presence of the finance ministers, central bank governors, and high-ranking government officials of 188 countries.

In the audience was Finance Minister Abul Maal Abdul Muhith leading a 12-strong team and India’s Finance Minister Arun Jaitley, among some 10,000 representatives.

Muhith said never before in their opening remarks had any IMF or World Bank chief praised any particular country.

Speaking to bdnews24.com after the inaugural ceremony, he said, “It’s a matter of pride for us. The World Bank president lauded Bangladesh before such a huge number of people – it feels really good as finance minister.”

“But I would like to add one thing here – the things that we have done for the development of our women, we have done according to our own plan, with our own money,” Muhith added.

More than 80 percent of the nearly 4 million workers that drive Bangladesh’s prime export earner clothing industry are women.

This sector fetched $27 billion from exports in fiscal 2014-15, which represents 82 percent of the total export earnings.

The Bangladesh delegation attended several meetings to lobby national interests after the launch of the meeting that will conclude on Sunday.

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