NEW DELHI — In an unprecedented move, the World Bank has granted the largest number of visas for global entry and international employment since it was established in 1949.
The agency has approved applications from 20 companies, including some in the energy sector.
More than 3,200 applicants have been approved for visas since the agency began accepting applications in 2011.
This marks a significant escalation from just eight years ago when it was only able to accept applications from a few hundred applicants annually.
World Bank President Jim Yong Kim said the move is aimed at bolstering the country’s capacity to attract foreign investment.
“We are seeing a strong economic recovery and it is time to invest in Australia’s talent pool,” Kim said in a statement.
He added that the visa program has made a “huge difference” in Australia, particularly in the mining sector, and that the bank was committed to continuing to support the Australian economy.
International employment is a key component of the countrys growth and economic recovery.
Many of the companies granted global entries or employment visas are large businesses and have huge assets.
However, the applications for these jobs have come under increasing pressure in recent years.
China and India have been the main markets for many of these companies.
Australia’s population is expected to grow to around 1.4 million by 2045 and there are fears that the country will be unable to sustain that growth and become a major player in the global economy.
World Bank Chief Economist Brian Gans said the agency is keen to increase its focus on supporting the country.
But he said the country must also make its own way in the world economy.
“The world has changed and that means we have to adapt to the new challenges we are faced with in the 21st century,” Gans told reporters.
While the application for visas for international employment has increased significantly in recent times, the agency’s global entry application has remained steady at around 2,000 applications a year since 2009.
Since then, the number of applications has increased dramatically, reaching more than 10,000 a year, according to the World Economic Forum.
In 2018, more than 4,000 people applied for jobs in the health sector and nearly 2,300 applied for visas to work in the oil and gas sector.