50 years of dev partnership: ADB mobilises $50b loans to Bangladesh

Staff Reporter :
In the past 50 years, Asian Development Bank (ADB) has provided around USD 50 billion in loans, grants, and technical assistance including co-financing to Bangladesh. As ADB is the second-largest source of development financing, and one of the lead financiers in energy, transport, education, water supply and sanitation, agriculture and natural resources, and finance sectors of Bangladesh.
ADB stands ready to support Bangladesh in a bigger way on this path to a more prosperous, inclusive, resilient, and sustainable future, enhancing our assistance in climate change adaptation and mitigation, and critical economic reforms, ADB President Masatsugu Asakawa said, at a event for celebrating 50 years of close development partnership between Bangladesh and ADB in a capital’s hotel on Tuesday.
Masatsugu Asakawa said, in a bilateral meeting after the event with Bangladesh Prime Minister Sheikh Hasina that, ADB will stand beside Bangladesh during its desired journey towards becoming an upper middle-income country by 2031 and a developed, prosperous and smart Bangladesh by 2041, as it is a key partner working with Bangladesh since 1973.
The ADB chief appreciated the macroeconomic management of Bangladesh in facing the fallout of the Covid-19 pandemic and Russia-Ukraine war.
Meanwhile, under the Country Partnership Strategy (CPS) for Bangladesh from 2021 -2025, ADB providing support to the government in achieving its vision of promoting prosperity and
fostering inclusiveness.
As a part of five day visit, Asakawa is scheduled to visit various ADB-supported projects, including a rail station under the Chittagong-Cox’s Bazar Railway Project and a water
supply facility in Cox’s Bazar camp for sheltered people under ADB’s Emergency Assistance Project.
He will also visit a garment factory and a training center under the Skills for Employment Investment Program, which contributes to women employment and entrepreneurship.