WB approves $150.75m to expand youth jobs in Bangladesh

The World Bank has approved an additional $150.75 million in financing to help Bangladesh create more employment and income opportunities for low-income youth and microentrepreneurs, with a strong focus on women and communities vulnerable to climate risks.

The funding will support the expansion of the Recovery and Advancement of Informal Sector Employment (RAISE) project, enabling it to reach another 176,000 young people nationwide, in addition to the 233,000 beneficiaries already covered.

Under the expanded programme, participants will receive skills training, apprenticeships, entrepreneurship support and access to microfinance to help overcome barriers to employment and business growth. New initiatives will also promote women’s economic participation, including pilot home-based childcare services through training and start-up grants, alongside life skills training for women.

The project will extend its reach beyond urban areas into rural communities and strengthen job-matching efforts through job fairs and employer linkages.

Since its launch in 2021, the RAISE project has supported hundreds of thousands of beneficiaries, including COVID-affected microentrepreneurs and returning migrants, with women making up more than half of participants. With the latest approval, total World Bank support for the project has reached $350.75 million.