hm-atif-wafik

ADB Keen to Support BD in Curbing Non-Performing Loans

The Asian Development Bank (ADB) has expressed its deep interest in supporting Bangladesh in issuing local currency bonds and helping to reduce non-performing loans (NPLs) in the banking sector.

Ingrid Van Wees, Asian Development Bank (ADB) vice-president of finance and risk management, showed the interest when she met Finance Minister AHM Mustafa Kamal at his ERD office in the Sher-e-Bangla Nagar area of the city together with Manmohan Parkash, ADB country director for Bangladesh, a press release said.

According to The Banker of Financial Times, UK, Ingrid Van Wees congratulated Kamal for being the strongest minister of finance (Global and Asia Pacific) for the year 2020.

She also praised the socio-economic development that has taken place in the last decade in Bangladesh.

Bangladesh's ADB Country Manager stated that ADB will help the Ministry of Finance's strategy of growing NPLs and strengthening the financial sector.

In addition, Kamal urged them to become Bangladesh's collaborator in newly identified various economic growth channels, rather than just lending.

Welcoming the delegate, he informed them about the present economic development that is taking place under the prudent leadership of Prime Minister Sheikh Hasina.

Mentioning that Bangladesh is now seen as a development model for other nations, the Finance Minister elaborated on how the economy has become a low-middle-income country and worthy to be a developing country by sustainable development policies adopted from Father of the Nation Bangabandhu Sheik Mujibur Rahman's economic ideology.

The minister apprised the delegation of the celebration of birth centenary of Bangabandhu.

Kamal also thanked ADB for their continuous support towards achieving the developmental milestones of Bangladesh. Its total support to Bangladesh stands at about US$25.143 billion. So far, the development assistance of ADB mainly focuses on power, energy, local government, transport, education, agriculture, water resources, and good governance and financial sectors of Bangladesh.

He mentioned that the government has been working to maintain the macroeconomic fundamentals to a subtle and robust level with consistent economic growth and contained inflation, which in return will be helpful for a stable financial and capital market in the near future.

The Finance Minister further told that the economic sector's untapped areas are still to be accessed by domestic and foreign buyers, who have great potential as a neighbor to the fast-growing cum markets of two giant economies, namely China and India.

Source: BSS

Subscribe Shampratik Deshkal Youtube Channel

Comments

Shampratik Deshkal Epaper

Logo

Address: 10/22 Iqbal Road, Block A, Mohammadpur, Dhaka-1207

© 2024 Shampratik Deshkal All Rights Reserved. Design & Developed By Root Soft Bangladesh