Bangladesh Overview

● Bangladesh has made remarkable progress in poverty reduction, supported by sustained economic growth.
● Among the fastest growing economies in the world, majorly because of demographic dividend, strong ready-
made garment (RMG) exports, and stable macroeconomic conditions.
● As a result, Bangladesh reached lower-middle-income status in 2015 and is on track to graduate from the
UN’s Least Developed Countries (LDC) list in 2026.
● Poverty declined from 44 percent in 1991 to 15 percent in 2016, based on the international poverty line of
$1.90 a day
● To maintain the current growth trajectory, it needs to promote entrepreneurship, innovation and structural
transformation.
● Aligned with the Government of Bangladesh’s goal of attaining Upper-Middle Income Country status by 2031,
the CDCS employs an integrated and inclusive approach. The new Goal and Development Objectives lay the
path for improved partnerships, more sustainable development outcomes, and greater self-reliance.
Bangladesh : Strategy for Sustained Growth

●The World Bank has been a longstanding partner of Bangladesh since its independence
●World Bank through its concessional lending arm—the International Development Association (IDA)—has
committed more than $30 billion in grants, interest-free and concessional financing credits to Bangladesh
●The country aspires to reach the upper middle income status by 2031 and developed country status by 2041
Sustained Growth Strategy
●Shifting the sectoral balance from Agriculture to Manufacturing and Service
●Improving the productivity of the manufacturing sector
●Bangladesh needs to capitalize on its long term competitive advantage in inland agriculture by overcoming
shrimp’s farmers past difficulties in meeting importers’ sanitary quality requirements and assisting them in
adopting intensive methods of shrimp farming
●Substantial further reform are needed to deepen trade liberalization and boost export competitiveness
●To diversify its trade base and improve export competitiveness, Bangladesh needs a well thought out sequence
of trade liberation measures
●Careful management is needed to balance the major opportunities and equally large challenges for Dhaka based
economic activity
●Bangladesh needs a well reasoned and carefully considered national strategy to bring more balance and energy
to urban development across the country