CURRENT AFFAIRS

Detailed explanation-1: -In its 50-year partnership with Bangladesh, the World Bank has committed over $37 billion in grants, interest-free and concessional credits to the country. Currently, Bangladesh has the largest IDA program in the world with a total of $15.7 billion commitment to 55 ongoing projects.

Detailed explanation-2: -The World Bank promotes long-term economic development and poverty reduction by providing technical and financial support to help countries implement reforms or projects, such as building schools, providing water and electricity, fighting disease, and protecting the environment.

Detailed explanation-3: -The World Bank Group is preparing the Country Partnership Framework (CPF) for Bangladesh for the period FY 2023-2027. The Framework will guide the World Bank Group’s overall support to Bangladesh for the next four years to attain the country’s development and growth aspirations.

Detailed explanation-4: -The World Bank Group (WBG) helps developing countries improve their access to world markets and enhance their participation in the global trading system. Trade is an engine of growth that creates better jobs, reduces poverty, and increases economic opportunity.