TDS Desk:

The World Bank has approved $150.75 million in additional financing to expand a national programme aimed at creating employment and income opportunities for low-income youth and microentrepreneurs in Bangladesh, with a focus on women and climate-vulnerable communities, according to a press release.

The funding will scale up the Recovery and Advancement of Informal Sector Employment (RAISE) Project, extending support to about 176,000 more young people nationwide, on top of the 233,000 beneficiaries already covered under the programme.

The expanded project will provide a package of services that includes skills training, apprenticeships, entrepreneurship development, and access to microfinance. The aim is to help young people and microentrepreneurs overcome barriers to employment and business growth, while also promoting climate-resilient livelihoods to support communities facing climate shocks.

Women’s empowerment forms a central pillar of the additional financing. New measures include access to quality and affordable childcare, alongside targeted support to help women participate more fully in the labour market.

“A good job can transform a life, a family, and a community,” said Gayle Martin, World Bank Acting Division Director for Bangladesh and Bhutan. “Yet every year many young Bangladeshis entering the labour market can’t find work. The country also faces challenges in job quality, skills shortages, and mismatches.”

She said the additional financing would help more young people from low-income families, particularly women and those in vulnerable communities, gain market-relevant skills and resources for better livelihoods.

The financing will allow the project to expand beyond urban centres into rural areas. It will pilot home-based childcare services by offering training and start-up grants to women, addressing both demand and supply gaps in childcare provision.

These efforts are expected to raise female labour force participation and generate new jobs in the care sector, while supporting children’s early health and development. Women participants will also receive life skills training designed to build confidence and strengthen economic empowerment.

Job placement support will be expanded through job fairs, employer-candidate matching, and assistance with marketing and contract negotiations, linking training more closely to labour market demand.

“The RAISE project has shown that targeted support can make a real difference for youth and microentrepreneurs,” said Aneeka Rahman, World Bank Senior Social Protection Economist and Project Team Leader.

She said the new financing would allow proven interventions to scale up, widen access to microfinance, and introduce innovations such as quality childcare.

The project has already reported strong outcomes. More than 80 percent of apprentices who completed training secured employment within three months, while young microentrepreneurs reported improved earnings and business practices.

Launched in 2021, the RAISE project has supported more than 50,000 microentrepreneurs affected by the COVID-19 pandemic with recovery loans and training. It has also registered over 250,000 returning migrants for reintegration support and delivered economic inclusion services to more than 122,000 beneficiaries, 55 percent of them women.

With the new financing, the World Bank’s total commitment to the RAISE project reaches $350.75 million.