Bangladesh’s Dev Projects: ADB to lend $5b in 3 yrs

The Asian Development Bank will provide around $ 5 billion to Bangladesh with an aim of promoting rapid, inclusive and sustainable growth in the country.   

Asian Development Bank (ADB) Country Director for Bangladesh Manmohan Parkash met Prime Minister Sheikh Hasina recently and handed over ADB’s new Country Operations Business Plan (COBP) for 2020-2022, which programmes around $5 billion in different projects.

Projects worth another $4.9 billion have been included in the pipeline as “standby”.

The projects will be taken up for ADB financing based on their readiness.

Parkash appraised Hasina of the ADB’s enhanced development programs for Bangladesh, ADB said in a media release yesterday.

The COBP aligns with the government’s Seventh Five-Year Plan and ADB’s Strategy 2030. It also supports implementation of sustainable development goals targets.

Besides, it is aligned with the government’s new manifesto that highlights the priorities and sets the stage for the next five-year plan.

During the meeting, Hasina appreciated ADB assistance and highlighted her government’s priorities for infrastructure and human capital development, science and technology research, rural and agricultural development, and private sector promotion.

Complimenting Hasina on strong economic performance, Parkash said that the new COBP was consistent with government priorities and a pathway to prosperity.

He reaffirmed ADB’s continued assistance to further strengthen its partnership to promote sustainable growth in Bangladesh.

In 2018 alone, ADB approved a record $2.5 billion in assistance to the country.

This included a grant of $100 million as the first phase of a projected $200 million support for the immediate needs of people sheltered in the camps in Bangladesh’s Cox’s Bazar region.