ADB will lend 200 million dollars this year 1185588 | The voice of time

ADB will lend 200 million dollars this year 1185588 | The voice of time
ADB will lend 200 million dollars this year 1185588 | The voice of time

Finance Minister AHM Mustafa Kamal requested ADB for more development assistance to face the challenges of transition from LDC to developing countries. Edmon Ginting, Country Director of Asian Development Bank (ADB) assigned to Bangladesh paid a courtesy call on the Finance Minister at the Secretariat on Tuesday. At this time, the Finance Minister made this call.

In the current fiscal year, ADB is in the process of loan assistance of about two hundred million dollars for the development projects undertaken in accordance with the development goals of the Bangladesh government.

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ADB, one of Bangladesh’s major development partners, has so far provided 27.555 billion US dollars in loan assistance. The Minister requested ADB for more development cooperation to face the challenges after the transition from LDC to developing countries. He emphasized on the continuation of such cooperation between Bangladesh and ADB in the future to achieve overall development goals.

The Country Director of ADB expressed his thanks and gratitude in advance to the Finance Minister for agreeing to participate in the 55th Annual Meeting of the ADB Board to be held on September 26-30. He also discussed the celebration of 50 years of relations between Bangladesh and ADB in 2023. He also appreciated the government’s activities for the social and economic development of Bangladesh. About two billion dollars of loan assistance is under process this fiscal year for development projects in line with the government’s development goals.

Edimon Ginting said that ADB has strong relations with Bangladesh and ADB will stand by Bangladesh. ADB will continue to support the country’s rural and urban development and encourage investment in climate resilient development. He praised the dynamic leadership of Prime Minister Sheikh Hasina for keeping the wheels of Bangladesh’s economy moving during the crisis of the Covid-19 pandemic. He said that Bangladesh has created one of the best examples in dealing with the situation of the Covid-19 pandemic. ADB has been supporting Bangladesh since the beginning to restore social and economic security to overcome the Corona pandemic. The country director of the organization expressed optimism that ADB will always be by Bangladesh’s side in the future.

A $250 million loan under negotiation

The government has called for increasing the loan amount of the World Bank for the ongoing project. In addition to this, another 250 million dollar loan from the ‘Bangladesh Green, Resilient and Inclusive Development Policy Credit’ program has been discussed.

On the first day of the visit of World Bank South Asia Region Vice President Martin Riser to Bangladesh, the discussion regarding budget support gained importance in the meeting with the government last Monday. The officials present at the meeting said that it has been proposed to increase the size of the two budget support that are being discussed now, instead of many budget support at the same time.

The global lender will provide $250 million budget support to Bangladesh from the ‘Bangladesh Second Recovery and Resilience’ credit scheme for the current financial year. Apart from this, another 250 million dollar loan from the ‘Bangladesh Green, Resilient and Inclusive Development Policy Credit’ program is being discussed.

Bangladesh will get IDA loan from World Bank without interest

Bangladesh will get an interest-free loan from the World Bank’s International Development Association (IDA). The multinational lender has allocated around $600 million for Bangladesh. At the current market rate, the amount is about six thousand crore rupees. IDA has opened a new branch for poor and lower-middle-income countries, including Bangladesh, from which short-term loans are available without interest. This new branch has been added in ‘IDA-20’. Bangladesh will be able to take loans from this branch in the next three years. It is known that short term maturity loan or short term loan has to be paid in 12 years. There is a grace period of six years out of this. There will be no interest on this loan and no service charge. It can be said that this loan will be met almost without interest. Just pay the loan installments.


The article is in Bengali

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