ADB's $200m loan for Bangladesh under process

Bangladesh will be provided a loan of $200 million in the current 2022-23 financial year, said Asian Development Bank (ADB) Country Head Edimon Ginting .

This loan is under process for various development projects of the government.

The ADB country director said this in a meeting with finance minister AHM Mustafa Kamal at the secretariat on Tuesday. This was stated in a press release of the ministry after the meeting.

 According to the press release, the country director said that ADB has a strong relationship with Bangladesh. ADB will continue to support rural and urban development and encourage investment in climate resilient development.

Edimon Ginting 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 thanked the finance minister in advance knowing that he will participate in the 55th annual meeting of ADB to be held from 26 to 30 September. He also discussed the 50th anniversary celebrations of Bangladesh and ADB in 2023.

ADB has given a loan of 27.55 billion dollars to the Bangladesh government so far.

In terms of development assistance in Bangladesh, ADB prioritizes power, education, transport, energy, water resources, agriculture, local government, good governance, finance and the private sector.

The finance minister praised ADB for its speedy assistance in the socio-economic development of Bangladesh, especially in overcoming the harmful effects of Covid-19.

He requested ADB to provide more development assistance to meet the challenges of transition from least developed country (ADC) to developing country.