Bangladesh is regarded globally as an example of remarkable progress in poverty reduction and human development, despite daunting challenges. The World Bank Group’s new Country Partnership Framework (CPF) 2016-2020 will support Bangladesh to achieve its vision of reaching middle income status by its 50th birthday in 2021. In 2014, Bangladesh reached Low Middle Income Country status. The country is at an important juncture, when with the right policies and timely action, it can move up within the middle-income bracket. For that, Bangladesh will need to accelerate growth.
The World Bank Group identified job creation as the country’s top development priority, a prerequisite for reaching the middle income country status by 2021. Bangladesh will need to create more and better jobs for the 2.1 million youths entering the job market every year. But to do so, Bangladesh will need to remove the barriers to higher growth posed by low access to reliable and affordable power, poor transportation infrastructure, limited availability of serviced land, rapid urbanization and vulnerability to climate change and natural disasters, among others. Under the new framework, the Bank Group will help Bangladesh to remove barriers to higher growth and job creation.