Which nation has received praise from the World Bank for its transformation from the poorest to one of the fastest-growing nations?
Bangladesh.
2023 January
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Bangladesh was praised as one of the greatest development success stories in the world by World Bank (WB) Managing Director Axel van Trotsenburg. At the time of its founding, the nation was among the poorest; today, it is one of the nations with the fastest economic growth. Millions of people have been able to escape poverty thanks to the nation's 6 percent average annual economic growth since 2000. It was a low-income country in 1972, moved into the lower-middle income bracket in 2015, and is now moving toward the upper-middle income bracket.