DHAKA, The World Bank (WB) has approved a US$ 250 million development policy operation to help Bangladesh strengthen its capacity to create more, betterpaid and quality jobs in a rapidly changing environment.
The Programmatic Jobs Development Policy Credit aims at supporting
Bangladesh to develop a stronger policy and institutional framework to
address barriers to creating more and better jobs for citizens, including
women, youth and the vulnerable population, said a WB press release issued
Despite Bangladesh's robust economic growth, the pace of job creation has
slowed in recent years, and almost stalled in the readymade garments sector.
The growth rate for jobs fell to 1.8 percent in 201016 from 2.7 percent in
200310, the release said.
Women, workers in lagging regions, and youth in particular face
challenges in accessing quality jobs. Climate change has exacerbated this
jobs challenge, underscoring the need to significantly increase of employment
in the nonagriculture sector.
Bangladesh has made remarkable progress in accelerating growth and
reducing poverty, but the rate of job creation has not kept up with economic
growth. Creating more and better jobs is a prerequisite for the country to
achieve its vision of uppermiddle income status, said Qimiao Fan, World
Bank Country Director for Bangladesh, Bhutan and Nepal.
This will require the economy to create jobs for the 2.2 million youths
entering the labour force each year, while attracting more women into the
labour market. This programme supports reforms to stimulate trade and private
sector investment, strengthen social protection for workers and help the
vulnerable population access to jobs, he added.
To promote largescale employment in diverse manufacturing sectors, the
reform programme will help improve the investment environment, lift barriers
to doing business, and modernise customs and trade facilitation. The
programme will also help implement amendments to the labor law and reform the
pensions scheme to ensure that works are protected.
This programme seeks to increase investments in labourintensive
activities, improve the quality of jobs, strengthen resilience to shocks, and
ensure women, youth, and migrants' access to job opportunities, said Thomas
Farole, World Bank Lead Economist and Task Team Leader.
In addition, it will help develop marketoriented skills for women,
youth, and overseas migrants, preparing them for better employment
opportunities, he added.
The programme also aims to increase female labour force participation by
increasing availability of childcare for working mothers and targeting women
and youth with training and employment services.
Source: Bangladesh Sangbad Sangstha (BSS)