Rafiq Islam ; Dhaka — The Asian Development Bank (ADB) will provide $1.4 billion in loan assistance and cooperation to bolster Bangladesh’s economic management, social protection, and infrastructural development.
To this end, four major bilateral project agreements have been officially signed between the Government of Bangladesh and the ADB, according to a press release issued by the Ministry of Finance.
Speaking at the signing ceremony held at the Hotel InterContinental in Dhaka on Sunday, Finance Minister Amir Khasru Mahmud Chowdhury emphasized the significance of this timely financial assistance.
He noted that the ADB’s swift economic response is crucial for implementing the country’s development plans, especially in mitigating the adverse impacts of recent conflict situations in the Middle East. The Finance Minister highly commended the ADB’s rapid support among multilateral development partners.
Under the agreements signed between the Economic Relations Division (ERD) of the Ministry of Finance and the ADB, financing is secured for four major initiatives:
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Strengthening Economic Management and Governance Program (Subprogram 2)
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Second Strengthening Social Resilience Program (Subprogram 2)
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South Asia Subregional Economic Cooperation (SASEC) Dhaka-Sylhet Corridor Road Project
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Narayanganj Green and Resilient Urban Development Project
Welcoming ADB President Masatsugu Asakawa (Masata Kanda) and the high-level delegation, the Finance Minister announced that a “Nationwide Integrated Development Project” will be declared following a meeting between the ADB President and the Prime Minister on Monday.
He further added that this long-term project aligns perfectly with the current government’s election manifesto and development goals, contributing significantly to improving citizens’ quality of life.
The Finance Minister expressed optimism that the enduring partnership between Bangladesh and the ADB will continue to play a pivotal role in the country’s sustainable economic and social advancement.