Seck announced that the World Bank could mobilize the new funds to support essential reforms, flood recovery, air quality improvement, and health initiatives. He further noted that the institution would repurpose an additional $1 billion from existing programs to respond to Bangladesh's immediate financial needs, raising the total World Bank support to around $3 billion this fiscal year.
"This new assistance is aimed at meeting critical reform needs and addressing urgent issues such as air quality, health, and flood response," Seck stated.
The World Bank official emphasized the importance of completing reforms, particularly for the younger population entering the workforce. "The success of these reforms is vital for Bangladesh and its youth," Seck said.
During the meeting, Prof Yunus stressed the need for flexibility from the World Bank in funding the country’s reforms. He highlighted the importance of restoring governance after what he described as 15 years of mismanagement, calling for a "big push" to focus on the aspirations of the youth.
Prof Yunus also requested the World Bank's technical assistance to recover billions of dollars in assets stolen from Bangladesh by corrupt individuals during the previous regime, aiming to establish a "zero-corruption Bangladesh."
Seck assured the chief adviser of the World Bank’s support, both in retrieving the stolen funds and providing expertise in areas such as financial sector reforms, data transparency, and tax system digitalization.
Prof Yunus called this an unparalleled opportunity for Bangladesh to rebuild its institutions, emphasizing that "this chance may never come again."
Seck also expressed his admiration for the student-led uprising and the vibrant murals and graffiti in Dhaka, stating, "In 30 years of my career, I've never seen such expressions anywhere."
END/MSS/
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