ADB Provides Assurances of $2Bn in Budget Support

The country director of the Asian Development Bank (ADB) Edimon Ginting said the lender will continue to support the country's rural and urban development and encourage investment in climate-resilient development.

In line with the development goals of the government, about USD $2 billion loan assistance is lined up for this fiscal (2022-23) under different development projects. He said that ADB has strong relations with Bangladesh and that ADB will stand by to support the country’s people in their needs.

Edimon Ginting said this when he paid a courtesy call to Finance Minister AHM Mustafa Kamal at the latter's office in the Secretariat on Tuesday.

Kamal praised AND’s assistance to Bangladesh during the crisis of the Covid-19 pandemic.

In response, the ADB country director, said that Bangladesh has set one of the best examples in dealing with the situation of the Covid-19 pandemic.

They also discussed the 50th-anniversary celebrations of Bangladesh and ADB in 2023. Ginting also appreciated the government's activities for the social and economic development of Bangladesh.

Kamal said ADB is one of the main development partners of Bangladesh. ADB has so far disbursed $27.55 billion in loan assistance to Bangladesh.

The finance minister thanked ADB for providing assistance to Bangladesh in order to overcome the possible economic impact of the Coronavirus outbreak.

He requested ADB to provide more development assistance, especially to meet the challenges of transition after LDC graduation.

Ginting said ADB has been supporting Bangladesh from the beginning to restore the social and economic security of the people to overcome this pandemic and ADB will always be on Bangladesh's side in the future._UNB