ADB committed to increase financial support to Bangladesh for key development priorities- President AsakawaAIR Pics

By  Firstdespatch Desk   Mar 14, 2023

The Asian Development Bank (ADB) is committed to widening its partnership with Bangladesh and to increasing financial support for key development priorities to help achieve its goal of becoming an upper middle-income country by 2031, said bank president Masatsugu Asakawa on Tuesday. 

ADB President Asakawa was speaking after holding a bilateral meeting with Bangladesh Prime Minister Sheikh Hasina in Dhaka on Tuesday. Earlier, a programme celebrating 50-years of partnership between the ADB and Bangladesh was held in Dhaka.

Lauding Bangladesh for its steady and inclusive growth over the years, ADB President extended the bank’s commitment to support Bangladesh in areas like climate change adaptation and mitigation, and critical economic reforms to diversify the economy and to mobilise more domestic resources.

Calling ADB as one of Bangladesh’s most trusted development partners, Prime Minister Sheikh Hasina sought its cooperation in areas like skill development, health, ICT-based entrepreneurship, quality infrastructure, and climate change, while helping unleash the potentials of the private sector.

Addressing the meeting as Chief Guest, Prime Minister Hasina regretted that at this crucial juncture many of the development partners are raising their interest rates which renders development financing in case of most of the projects ineffective.

Speaking about unnecessary trade restrictions being imposed by global business partners, Prime Minister Hasina said it hampers the overall supply chain, pushing countries like Bangladesh into an economic crisis. She urged development partners to continue financing on soft conditions until the global economy returns to a normal state.