World Bank Grants $650 Million to Rohingya Support

Prime Minister Sheikh Hasina and World Bank MD Anna Bjerde

The World Bank Managing Director, Anna Bjerde, announced a $650 million grant for supporting the Rohingyas in Bangladesh. The funding, divided into two schemes, aims to address the needs of displaced Rohingya individuals, with half of the amount provided on grant terms. The grant, equivalent to 7,127 crore 90 lakh taka, is a significant contribution to alleviate the challenges faced by the Rohingyas and reinforce Bangladesh's efforts to become an upper-middle-income country by 2031.

Bangladesh aspires to achieve upper-middle-income status by 2031, requiring support from development partners. The World Bank has expressed strong commitment to assisting Bangladesh in reaching this goal. The announcement follows discussions between World Bank MD Anna Bjerde, Prime Minister Sheikh Hasina, Finance Minister Abul Hassan Mahmood Ali, Bangladesh Bank Governor Abdur Rouf Talukder, Finance Secretary Khairuzzaman Mozumder, ERD Secretary Md. Anna Buzzard, and other senior officials.

Financial Support for Rohingyas: The $650 million grant from the World Bank will be allocated for the displaced Rohingya population. Approximately half of the funds will be provided on grant terms, emphasizing the urgent need for humanitarian aid.

Economic Development Goals: Bangladesh aims to attain upper-middle-income status by 2031, requiring collaboration with development partners. The World Bank reaffirms its strong support for Bangladesh in achieving this economic milestone.

World Bank's Historical Partnership: The World Bank has been a longstanding partner for Bangladesh since its independence, having pledged over 41 billion in grants or subsidized loans. The World Bank's support has played a crucial role in lifting millions out of poverty, creating jobs, developing a robust private sector, attracting investment, and addressing climate change.

Inclusive Growth and Development: The World Bank emphasizes the need for financial sector reforms to sustain inclusive growth in Bangladesh. Acknowledging Bangladesh's economic growth and development achievements, the World Bank highlights the importance of swift and bold fiscal and policy reforms.

Education and Infrastructure Achievements: Bangladesh's success in achieving almost 100% enrollment for boys and girls in schools, widespread access to electricity, and providing shelter to displaced Rohingyas are acknowledged by the World Bank MD.

Future Commitments: The World Bank pledges to continue supporting Bangladesh until the safe and voluntary return of the Rohingyas, as well as addressing the needs of the host community. The organization expresses pride in its partnership with Bangladesh and commits to assisting the country in dealing with future crises and sustainable development.

The World Bank's $650 million grant underscores its commitment to supporting Bangladesh in addressing the challenges posed by the Rohingya crisis and achieving its economic development goals. The partnership between Bangladesh and the World Bank, dating back to the country's independence, remains crucial for sustainable development, poverty reduction, and crisis response. The financial support provided is expected to have a positive impact on the livelihoods of the displaced Rohingya population and contribute to Bangladesh's journey towards becoming an upper-middle-income country.