Dhaka, March 27, 2014: World Bank Vice President for the South Asia Region Philippe Le Houérou arrives in Dhaka tomorrow to build on the longstanding partnership between Bangladesh and the World Bank Group, since the country’s independence.
This is Le Houérou’s first visit to Bangladesh since assuming his position in July 2013 and comes as the World Bank shifts more of its resources in the country to address infrastructure bottlenecks and expand energy generation.
“Bangladesh’s remarkable success in reducing poverty is an example for other developing countries who want to achieve the same. But Bangladesh has the potential to do much better,” said Le Houérou. “With nearly one-third of the population living in poverty, Bangladesh still faces daunting challenges. By addressing critical development bottlenecks, including in the areas of investment climate, energy and transport, Bangladesh can reduce poverty faster and ensure shared prosperity for its people.”
During his visit, Le Houérou will meet with the senior government officials and the private sector and civil society leaders and discuss how the World Bank can best support efforts to make economic development more inclusive while ensuring good governance and strengthening the country’s own institutions. He will also visit World Bank financed projects in Bangladesh.
Since 1972, the World Bank has committed more than $17 billion to support the Government of Bangladesh. The World Bank’s current portfolio in Bangladesh stands at $6.7 billion with 31 projects.