The World Bank on Tuesday slashed its global growth forecast by 1.2 percentage points to 2.9 per cent for 2022, warning that Russia’s invasion of Ukraine has compounded the damage from the Covid-19 pandemic, with many countries likely to face recession.

The estimated poverty in Bangladesh has declined by 0.6 per cent in the 2021 fiscal year, riding on the strong economic recovery amid the Covid-19 pandemic, according to the latest report of the World Bank.

The World Bank has projected Bangladesh’s economy to grow at 6.4 per cent in 2021-22 fiscal year, which is 1.3 percentage points up from the global lender's previous forecast.

The Central Procurement Technical Unit (CPTU) has won the World Bank’s Directors Award for Most Innovative, Collaborative and Impactful Governance Global Practice Operations for its “Digitising Implementation Monitoring and Public Procurement Project (DIMAPPP)”.

The World Bank has approved $1.05 billion for three projects to help Bangladesh create quality jobs and accelerate economic recovery from the Covid-19 pandemic as well as build resilience to future crises.

Bangladesh could achieve only a little more than half of the targets set by the World Bank Group for 84 projects and programmes in the last four years, says a draft performance review report of the World Bank Group.

Bangladesh has moved two notches up in the World Bank’s Women, Business and the Law 2020 study but the country still has a long way to go in creating opportunities for them in employment and entrepreneurship.

Bangladesh’s economy is forecasting to grow faster than all countries in South Asia except Bhutan in the current fiscal year, World Bank says.

Graduates struggle to find jobs, with more than a third of them remaining unemployed one or two years after graduation, said the World Bank in its latest report -- a damning evidence of the poor state of the country’s education system.

World Bank (WB) is ready to help Bangladesh increase growth to double digit and it would provide all kinds of support for this, newly-appointed World Bank country director for Bangladesh and Bhutan says.