The Asian Development Bank (ADB) is lending 200 million US dollars (2 billion) to Bangladesh in the current financial year. The organization said that the loan is in process.
This was stated by ADB Bangladesh Country Director Edimon Ginting during a courtesy meeting with Finance Minister AHM Mustafa Kamal at the Secretariat on Tuesday.
In that meeting, more support was sought from Admin Ginting to deal with the challenges after the transition from less developed countries to developing countries. However, the Finance Minister praised ADB for its support in socio-economic development and overcoming the harmful effects of Covid-19.
Bangladesh has sought this loan for budget support and various ongoing development projects in the current financial year. Against that proposal, Admin Ginting gave a glimpse of giving a loan of 200 million dollars to Bangladesh. Apart from ADB, loan assistance has also been sought from other donor agencies, particularly the World Bank, IMF and JICA.
The Country Director of ADB thanked the Finance Minister in advance for participating in the 55th Annual Board Meeting of the organization to be held on September 26-30. Admin Ginting emphasized on the continuation of this kind of cooperation between Bangladesh and ADB in the future to achieve overall development goals.
Incidentally, ADB has provided 2,755 million (27.55 billion) US dollars in loan assistance so far. In terms of development assistance in Bangladesh, ADB has been giving priority to power, education, transport, energy, water resources, agriculture, local government, good governance, finance and private sector.