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World Bank lauds Bangladesh for poverty reduction

In a function organised to release the report in Dhaka today World Bank Country Director for Bangladesh and Bhutan Mercy Tembon said  that Bangladesh has made remarkable progress in reducing poverty in the last decade. However, the rate of poverty reduction has declined during this period.

The report points out that poverty in Bangladesh is yet to be eradicated as one in four Bangladeshi still lives in poverty, and almost one half of the poor segment of society continue to live in extreme poverty unable to afford basic food.

It also says that the historical gap in poverty between the eastern and western parts of the country has increased. The maximum decline of 90 percent in poverty was accounted for by the rural areas.

In urban areas, growth in garment sector was the main engine driving poverty reduction.  The report said Industry and services, not agriculture, mostly led poverty reduction in rural areas.

Speaking at the function Finance Minister AHM Mustafa Kamal said that about one crore people will get employment in the next ten years after the 100 SEZs became operational. He also reiterated the government’s commitment to make Bangladesh poverty and hunger free by 2030.

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