The World Bank (WB) has approved $150.75 million in additional financing to expand employment and income opportunities for low-income youth and microentrepreneurs in Bangladesh, with priority given to women and people living in climate-vulnerable areas.
The fresh funding will support the Recovery and Advancement of Informal Sector Employment (RAISE) Project, enabling it to reach another 176,000 young people across the country in addition to the 233,000 beneficiaries already covered.
Participants under the expanded programme will receive a comprehensive package that includes skills training, apprenticeships, entrepreneurship development and access to microfinance to address barriers to employment and business growth.
Special focus will be placed on women’s empowerment through the introduction of quality childcare services and the promotion of climate-resilient livelihoods to help communities adapt to climate shocks.
Commenting on the approval, World Bank Acting Division Director for Bangladesh and Bhutan Gayle Martin said many young Bangladeshis entering the labour market every year struggle to find work despite the transformative impact a good job can have on families and communities.
She said the additional financing would allow young people from low-income households, particularly women and those in vulnerable areas, to access market-relevant skills, resources and training needed for better employment and livelihood opportunities.
Beyond city centres, the expanded RAISE Project will extend its coverage to rural communities to ensure marginalised youth and microentrepreneurs across the country can benefit from targeted support.
As part of the scale-up, the project will pilot affordable home-based childcare services by providing training and start-up grants to women, addressing both the demand and supply sides of childcare.
These measures are expected to boost female labour force participation, create new jobs in the care sector and contribute to improved early health and development outcomes for children.
Women participants will also receive life-skills training aimed at strengthening confidence and empowerment in both economic and social contexts.
Alongside training support, the additional financing will strengthen job intermediation efforts through job fairs, employer-candidate matching and assistance with marketing and contract negotiations.
Reflecting on the project’s performance, World Bank Senior Social Protection Economist and RAISE Project team leader Aneeka Rahman said targeted support has already demonstrated tangible benefits for youth and microentrepreneurs.
She said the new financing would scale up proven interventions, expand access to microfinance and introduce innovative solutions such as quality childcare to help young people and women build resilient futures.
Project data show that more than 80 per cent of graduated apprentices secured employment within three months of completing the programme, while young microentrepreneurs reported improved earnings and better business practices.
Since its launch in 2021, the RAISE Project has supported more than 50,000 COVID-affected microentrepreneurs with recovery loans and training, registered over 250,000 returning migrants for reintegration support and delivered economic inclusion services to more than 122,000 beneficiaries, 55 per cent of whom are women.
With the latest approval, total World Bank financing for the RAISE Project now stands at $350.75 million.
