World Bank Vice President for South Asia Johannes Zutt has said the organisation will strengthen its support for large-scale job creation in Bangladesh, with a focus on young people.
The remarks came at the end of his three-day visit to Bangladesh, according to a press release.
“The government places a high priority on large-scale job creation, alongside skills and investment, and the World Bank Group shares this commitment,” he said.
“In this context, we are stepping up our focus on supporting the government priority of creating jobs, notably for youth and women,” he added.
During the visit, he met senior government leaders and officials, as well as representatives from civil society, to discuss development priorities and areas of cooperation with the World Bank Group.
The discussions included meetings with the Finance and Planning Minister, the Commerce Minister, the Prime Minister’s Adviser on Finance and Planning, and the Governor of Bangladesh Bank.
He highlighted mounting pressure in the labour market, noting that around 14 million young people entered Bangladesh’s workforce over the past decade, while only 8.7 million jobs were created.
“This means nearly half of working-age youth did not find jobs,” he said, adding that young women face particularly steep barriers in accessing employment.
He said rising global uncertainties make it urgent for the government to carry out long-pending macroeconomic and financial sector reforms to remove key bottlenecks to growth and job creation.
He added that the World Bank Group is working with countries to build economies that convert growth into local jobs by strengthening employment foundations.
He said the organisation supports investment in physical and human infrastructure, promotes a business-friendly environment, and mobilises private capital to accelerate job creation at scale.
