Special Correspondent :
The Asian Development Bank (ADB) will give $8 billion loan to Bangladesh over the next five years to support its ongoing development agenda under the 7th 5-year plan.
This was disclosed at the launching ceremony of ADB’s new Bangladesh Country Partnership Strategy (CPS) 2016-2020 at the National Economic Council (NEC) auditorium on Wednesday.
According to the partnership strategy, the ADB will lend the amount to Bangladesh for the period of 2016-2020.
The Manila-based lender provided $5 billion to Bangladesh in light with its previous Bangladesh Country Partnership Strategy for the year 2011- 2015.
ADB Country Director K Higuchi and Economic Relations Division (ERD) senior secretary Mohammad Mejbahuddin jointly launched the partnership strategy.
“ADB will provide the loan to public and private sectors of Bangladesh over the next five years to strengthen its economy and trade links within the region,” said Kazuhiko Higuchi at the launching ceremony of the CPS.
He said this financial assistance will help Bangladesh in easing infrastructure constraints in key sectors, such as energy, transport and urban development.
“Others priority investment areas of ADB are: developing human capital, supporting economic corridor development, improving rural livelihood and providing climate and disaster resilient
infrastructure and services,” added K Higuchi.
Lauding Bangladesh’s recent socio-economic development, the ADB Country Director said, “The country halved poverty as targeted under the Millennium Development Goals, and reached middle-income status following decade-long strong economic growth.”
He said, the new CPS is in accordance to government’s goals of creating new sources of growth, generating employment, and supporting rural development for regionally balanced growth.
According to ADB, the CPS would also promote investment and growth in specific geographical areas to ensure a more integrated and higher impact, while it would support further development of the Dhaka-Chittagong industrial artery, extending to Cox’s Bazar in the southeastern part of the country, and development of the southwest economic corridor from Dhaka.
ADB will also strengthen institutional capacity support at the project, sector, and country level.
The Asian Development Bank (ADB) will give $8 billion loan to Bangladesh over the next five years to support its ongoing development agenda under the 7th 5-year plan.
This was disclosed at the launching ceremony of ADB’s new Bangladesh Country Partnership Strategy (CPS) 2016-2020 at the National Economic Council (NEC) auditorium on Wednesday.
According to the partnership strategy, the ADB will lend the amount to Bangladesh for the period of 2016-2020.
The Manila-based lender provided $5 billion to Bangladesh in light with its previous Bangladesh Country Partnership Strategy for the year 2011- 2015.
ADB Country Director K Higuchi and Economic Relations Division (ERD) senior secretary Mohammad Mejbahuddin jointly launched the partnership strategy.
“ADB will provide the loan to public and private sectors of Bangladesh over the next five years to strengthen its economy and trade links within the region,” said Kazuhiko Higuchi at the launching ceremony of the CPS.
He said this financial assistance will help Bangladesh in easing infrastructure constraints in key sectors, such as energy, transport and urban development.
“Others priority investment areas of ADB are: developing human capital, supporting economic corridor development, improving rural livelihood and providing climate and disaster resilient
infrastructure and services,” added K Higuchi.
Lauding Bangladesh’s recent socio-economic development, the ADB Country Director said, “The country halved poverty as targeted under the Millennium Development Goals, and reached middle-income status following decade-long strong economic growth.”
He said, the new CPS is in accordance to government’s goals of creating new sources of growth, generating employment, and supporting rural development for regionally balanced growth.
According to ADB, the CPS would also promote investment and growth in specific geographical areas to ensure a more integrated and higher impact, while it would support further development of the Dhaka-Chittagong industrial artery, extending to Cox’s Bazar in the southeastern part of the country, and development of the southwest economic corridor from Dhaka.
ADB will also strengthen institutional capacity support at the project, sector, and country level.
