Bangladesh’s banking sector was not well-managed in recent years. Banks mostly gave loans to their owners, rather than to creditworthy entities. Consequently, several banks are now in difficulty.

World Bank (WB) Vice President for South Asia Martin Raiser affirmed the bank’s commitment to support critical reforms to promote inclusive and sustainable growth of Bangladesh

The World Bank (WB) is considering a $2 billion budget support for Bangladesh during the current fiscal year, according to the multilateral lender’s South Asia Region Vice President Martin Raiser

The World Bank will provide support in reforming banking and other sectors in Bangladesh, Finance and Commerce Adviser  Salehuddin Ahmed said on Thursday

It is unfortunate that the previous government fell short of its commitments to strengthen the banking sector.

Finance Adviser Salehuddin Ahmed says after meeting with ADB

These new financing operations will help Bangladesh in financial sector and urban management, says Abdoulaye Seck, World Bank country director for Bangladesh and Bhutan

She alleges that the development paradigm still reflects the colonial framework of power relationships.

Commodity prices are projected to experience a slight downturn in 2024 and 2025 but are expected to remain above pre-pandemic levels, according to the World Bank

Crisis-hit Sri Lanka will return to growth this year, the World Bank said Tuesday, but around a quarter of the country's citizens will remain living in poverty

Around 5 lakh people in Bangladesh likely fell into extreme poverty between the fiscal years 2022-23 and 2023-2024 due to the erosion of purchasing power, said the World Bank

The multilateral lender said the economy would grow at 5.6 percent in 2023-24, lower than the South Asian average of 6 percent for 2024. Annual GDP growth averaged 6.6 percent in the decade before the pandemic struck the world in 2020.

The government should come up with a clear guideline complying with the global best practices before compelling banks to merge, the World Bank has said.

The WB said before initiating any merger processes, detailed guidelines on mergers and acquisitions need to be issued, allowing banks a clear idea about the process involved

Bangladesh’s real GDP growth is projected to remain relatively subdued at 5.6 percent in the current fiscal year, compared to the average annual growth rate of 6.6 percent over the decade preceding the Covid-19 pandemic, the World Bank said today.  

Economic growth has slowed in developing countries, with growth falling to barely 4% from 6% in two decades, Banga said, noting that each lost percentage point dragged 100 million people into poverty, while debt levels were rising

With a gross domestic product growth rate of nearly 5.8 percent in 2023, Bangladesh is one of the fastest-growing economies in the world. Driving Bangladesh’s prospects is our extremely active domestic consumer market, which accounts for nearly 70 percent of GDP and is rapidly expanding on the back of a growing middle and affluent class. Fuelling this growth is a digital economy that is also expanding rapidly.

To fully harness the benefits of these digital financial services (DFS) to close gaps in gender equality, policymakers must consider the unique challenges women face in accessing formal financial services. 

World Bank Alternate Executive Director Ahmad Kaykaus says at a seminar in Texas

Both the World Bank and Asian Development Bank (ADB) have assured they will continue supporting Bangladesh’s growth but stressed the need for economic reforms that are crucial for the country to become a developed nation.