Dhaka, August 21: The World Bank and Government of Bangladesh have reached agreement to focus jointly on reforming Bangladeshs power sector, so it becomes a model for the rest of the country.
The move was a key outcome of World Bank President Paul Wolfowitzs one day visit to Dhaka, the capital of Bangladesh, on Sunday, marking the end of his week long trip to South Asia.
Wolfowitz met Prime Minister, Begum Khaleda Zia, Finance and Planning Minister, Saifur Rahman, and Leader of the Opposition, Sheikh Hasina Wajed. He also visited a group of women who had improved their quality of life through micro-credit, as well as a school teaching vocational skills to underprivileged children.
The aim of Wolfowitzs visit to Bangladesh was to familiarize himself with the country’s leadership and both its development successes and challenges.
Stories of Success
On his arrival at Dhaka airport, the Bank president said he had heard “some remarkable stories of success from Bangladesh – especially in the areas of girls’ education and womens empowerment.”
– But even with these gains, the path to nationwide poverty reduction is not easy. I am here to ensure the World Bank continues to assist Bangladesh in overcoming these challenges, Wolfowitz said.
Bangladesh, the third-largest borrower of funds from the Banks concessional lending arm, the International Development Association (IDA), is one of the most densely populated countries in the world. Annual GDP growth rate has been averaging five percent, and it has made significant gains in poverty reduction and primary education.
But major challenges remain with over 63 million people still living in poverty, making the country one of the poorest in the world. Unequal access to education, health care and jobs persist.
Power Sector Reform
The decision by the Bank President and Bangladeshs Prime Minister to focus on power sector reform was driven by the desire that it could serve as an example of the countrys capacity to improve its governance, infrastructure and business climate.
Begum Khaleda and Wolfowitz recognized the countrys high growth, good macro-economic management and improvement in social indicators. But they agreed more needed to be done to sustain and broaden these successes, especially in governance and infrastructure.
The two have asked Finance Minister Rahman and World Bank Vice President for South Asia, Praful Patel, to work together to assess the challenges in the power sector.
The idea was to develop the sector as an example to the country that what should be done, could be done, to address governance and the creation of a conducive environment for the private sector.
Paying a courtesy call on the national opposition leader, Wolfowitz said he was delighted to have the opportunity to meet with Sheikh Hasina.
– I have just completed a constructive dialogue with her. Her party is working with others towards the benefit of Bangladesh. Much more could be accomplished if all Bangladeshis could unite for the common purpose of helping the poorest people of this country, he said.
Changing Women’s Lives
Away from official meetings, Wolfowitz was welcomed by the confident voices of women who have benefited from the work of the non government organization, the Bangladesh Rural Advancement Committee (known as BRAC).
For years, BRAC has pioneered the advancing of small loans to the “unbankable poor”, helping thousands of women discover their entrepreneurial spirit and find a livelihood. With a 90-plus percent loan repayment rate, BRACs program is one of the most successful womens empowerment programs in the world.
Wolfowitz learned how the women had transformed their lives by starting small businesses in pharmacy, clothing and other innovative schemes. He asked the women present how the program made a difference to their lives.
In response, Khadija, an outspoken beneficiary of the program, said: – I now have financial independence and can contribute to the family as much as my husband. I feel as if I am his equal now.
With financial gains came social awareness. Wolfowitz heard how the women used their profits to send their children to school – especially their daughters.
Training for Children
The Bank President then visited a school of the Underprivileged Childrens Education Program. UCEP stands out because it provides practical training to its young students and assists them in adapting to the job market.
The program offers a wide range of training includes mechanical engineering, spinning, knitting and other skills, which would otherwise be unaffordable for the children.
A group of girls gave Wolfowitz a crash course in reassembling televisions. When he asked what they wanted to be when they grew up, they said in unison, “Electrical engineers.”
At the end of his visit, the Bank president described his discussions as fruitful, adding that he left the country with a better understanding of its people and economy.
– The World Bank intends to remain an active partner for Bangladesh in working to achieve its development goals, he said.
Kilde: www.worldbank.org
