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WB to help BD create 90,000 jobs; $100mn financing approved
The World Bank has approved $100 million financing to help Bangladesh diversify its exports in labour and skill intensive industries beyond the garment sector and create more and better jobs.
“Bangladesh is the world’s second largest garment exporter after China and it can boost growth by diversifying its exports, and repeat the garment sector success story in other sectors,” said Qimiao Fan, World Bank Country Director for Bangladesh, Bhutan and Nepal.
The Export Competitiveness for Jobs Project will improve competitiveness of the existing and potential export-oriented industries such as leather, footwear, plastics and light engineering, where Bangladesh has demonstrated a competitive edge.
The project will help create more than 90,000 jobs in non-readymade garment (RMG) export sectors.
“The project will help the economy to integrate further into the world trading system, and provide better jobs to Bangladeshi youths entering the labour market in the next decade, with a particular focus on improving female labour participation,” said the WB Country Director.