The finance minister said that poverty has decreased in Bangladesh since 1991. In 1991, the poverty rate fell to 56% after the country experienced a sharp rise due to the 1971 war. It is now estimated between 40-45%. Around 20% of the population still lives below the poverty line.
The minister also said that climate change is now the biggest challenge for poverty reduction in Bangladesh. Natural disasters and environmental degradation have negatively impacted poverty reduction progress. Employment generation through rural development is key to further reducing poverty but this alone is not enough. Public-private partnerships are important for the country's economic growth.
A permanent parliamentary committee on poverty reduction was announced to better coordinate efforts to tackle poverty in Bangladesh.