Bangladesh Third Programmatic Jobs Development Policy Credit

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The development objectives of the Third Programmatic Jobs Development Policy Credit Project in Bangladesh address the country’s jobs challenges by: (i) modernizing the trade and investment environment; (ii) strengthening systems that protect workers and build resilience; and (iii) improving policies and programs that enhance access to jobs for vulnerable populations. The program includes the following pillars. Pillar A: modernizing the trade and investment environment, lays the foundation for continued progress towards upper middle-income status. Bangladesh has achieved remarkable growth through integration in the ready-made garment global value chain. However, exports remain heavily concentrated in the RMG sector, which accounted for approximately 83 percent of all exports in FY20. Pillar A supports job creation and the COVID-19 recovery by strengthening the investment climate, promoting exports, and helping mitigate environmental and climate change impacts of industrial expansion. These four actions will be particularly important to help Bangladesh sustain recovery momentum as global demand picks up. Pillar B: Strengthening systems that protect workers and build resilience, focuses on increasing protection of Bangladeshi workers, It includes policy actions to strengthen the Government of Bangladesh’s (GoB’s) capacity to respond to the COVID-19 crisis and future crises, and supports: (i) job quality through interventions protecting the earnings of workers affected by the COVID19 crisis; (ii) GoB’s mechanisms to coordinate response to shocks and deploy safety net programs; and (iii) GoB’s capacity to enforce labor regulations and standards that expand workers protection. Pillar C: improving policies and programs to enhance access to jobs for vulnerable populations, supports key policies to strengthen programs and institutions that help youth, women, and overseas migrants access job opportunities. The COVID-19 crisis has further exacerbated the need for interventions which promote economic inclusion for women, youth, and migrants.