ADB engages with interim govt to support Bangladesh’s development

The Asian Development Bank (ADB) has engaged with the interim government to support Bangladesh’s development strides.

“ADB is fully committed to our long-standing partnership with Bangladesh, supporting its sustainable development in alignment with the aspirations of its people. Our collaboration with the interim government will work to ensure the continuation of ongoing projects and support for more inclusive, resilient, and sustainable future for the people of Bangladesh,” a spokesperson of ADB said here today.

The official said a core focus of ADB’s work in Bangladesh is on public sector management and governance, which is even more important in light of recent events. “We will continue to work with the interim government toward macro-fiscal sustainability, including a focus on fiscal consolidation and domestic resource mobilization,”

A second priority is the expansion of private sector development to enhance competitiveness and create new employment opportunities, said the ADB spokesperson adding, “This includes working with the interim government to streamline government-to-business services to reduce the cost of doing business in Bangladesh,”

Noting that climate change is a critical challenge, the ADB official said, “Bangladeshi communities increasingly suffer from floods, droughts, and intense heat. ADB will help the interim government build a whole-of-government approach to tackling climate change in its development agenda. This will include support for renewable energy and other initiatives that promote green growth.”

Since 1973, ADB has been a trusted development partner of Bangladesh, contributing to its progress through 726 public sector loans, grants, and technical assistance, amounting to $31.8 billion. “We look forward to continuing this important work with the interim government and the people of Bangladesh.” He added. (BSS)