World Bank approves $150.75m jobs support for Bangladesh
The World Bank has approved $150.75 million in additional financing to help Bangladesh expand employment and income opportunities for low-income youth and microentrepreneurs, with a strong focus on women and people living in climate-vulnerable areas.
The funding will scale up the Recovery and Advancement of Informal Sector Employment (RAISE) project, extending support to around 176,000 more young people across the country. This adds to the 233,000 beneficiaries already covered under the project, significantly widening its national reach.
According to the World Bank, participants will receive a comprehensive package of support, including market-oriented skills training, apprenticeships, entrepreneurship development and improved access to microfinance. The aim is to help young people and small business owners overcome barriers such as limited skills, lack of capital and weak market linkages that restrict sustainable employment and business growth.
The expanded program will also introduce new measures to strengthen women’s economic participation, including access to quality childcare services to enable greater workforce engagement. In addition, the project will promote climate-resilient livelihood options to help communities better adapt to climate shocks, a growing concern for Bangladesh as extreme weather increasingly affects jobs and incomes.
Gayle Martin, the World Bank’s Acting Division Director for Bangladesh and Bhutan, said that while Bangladesh’s labour force continues to grow rapidly, many young people struggle to find decent work due to skills mismatches and job quality issues. She said the additional financing would help youth from low-income households, particularly women and those in vulnerable regions, gain relevant skills and resources for improved livelihoods.
With the new funding, the World Bank’s total commitment to the RAISE project now stands at $350.75 million, reinforcing its long-term support for job creation, inclusive growth and poverty reduction in Bangladesh.
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