ADB to give Bangladesh $5bn in aid for 2020-22
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard
TUESDAY, MAY 24, 2022
TUESDAY, MAY 24, 2022
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
ADB to give Bangladesh $5bn in aid for 2020-22

Foreign Aid

TBS Report
13 September, 2019, 04:45 pm
Last modified: 13 September, 2019, 04:47 pm

Related News

  • Kamal thanks ADB for budget aid during pandemic
  • ADB, LDC sign $100 million loan to support farmers and climate resilience
  • GDP growth in FY23 to stay below pre-pandemic level: ADB
  • ADB to give Bangladesh $143m to boost cross-border trade
  • Covid hit CMSMEs to get Tk400cr loan from IDB

ADB to give Bangladesh $5bn in aid for 2020-22

Country Director Manmohan Parkash hands over new Country Operations Business Plan to PM on Sept 11

TBS Report
13 September, 2019, 04:45 pm
Last modified: 13 September, 2019, 04:47 pm
ADB to give Bangladesh $5bn in aid for 2020-22

As part of a new development programme, the Asian Development Bank (ADB) will be providing Bangladesh with $5 billion in 2020-2022.

ADB Country Director for Bangladesh, Manmohan Parkash, handed over the new Country Operations Business Plan (COBP) for 2020-2022 to Prime Minister Sheikh Hasina at the parliament office on September 11, said a press release from ADB received here on Friday.

As part of the COBP, other projects worth $4.9bn have been included in the pipeline as "standby". The amount will be released based on readiness of future projects.

The COBP aligns with the government's 7th Five-Year Plan and ADB's Strategy 2030. It supports the implementation of SDGs (sustainable development goals) targets.

It is also aligned with the government's new manifesto, which highlights the priorities and sets the stage for the next 5-year plan.

Hasina appreciated ADB assistance and highlighted the government's priorities for infrastructure and human capital development, science and technology research, rural and agricultural development, and private sector promotion, the release added.

Congratulating the prime minister on strong economic performance, Manmohan said the new COBP is consistent with the government priorities. He reaffirmed ADB's continued assistance to further strengthen its partnership to promote rapid, inclusive and sustainable growth in Bangladesh.

ADB assistance is well distributed in infrastructure and social sectors. About 54% of sovereign investments (by volume) will further improve human capital; enhance urban services, water supply and sanitation; strengthen road, railway and port connectivity; promote rural development, and improve access and quality of electricity supply.

The lending prioritises skills development and tertiary education with an emphasis on information technology. It also prioritises Bangladesh's participation in regional and global value chains by furthering regional cooperation and integration in the South Asia Subregional Economic Cooperation (SASEC) and beyond.

The programme will enable greater private sector investment by easing credit constraints and facilitating local currency bonds.

The major projects under ADB finance include the Dhaka-Sylhet highway, the Joydebpur-Elenga-Rangpur-Burimari-Banglabandha highway, the Faridpur-Barisal highway, dual gauging of Dhaka-Chattogram rail lines, Chattogram-Cox's Bazar rail line, Dhaka MRT line 5 (Gabtoli-Panthapath-Aftabnagar), Skills for Employment Project, Computer and Software Engineering Tertiary Education Project, Dhaka Sewerage System and Water Supply Projects, and Khulna Sewerage System Development Project.

The projects in the pipeline may include automating revenue administration, developing bond markets, strengthening the banking system, and improving irrigation, rural connectivity and electrification.

In its 46-year-long partnership with Bangladesh, the ADB has mobilised over $25 billion in loans and grants to help bring better infrastructure, public services and social development outcomes to the people of Bangladesh.

In 2018 alone, the ADB approved a record $2.5 billion in assistance to the country. This included a grant of $100 million as the first phase of a projected $200 million support for the immediate needs of people sheltered in the camps in Cox's Bazar region. Active portfolio has also grown sharply, with around $4.5 billion in 2009 to over $10 billion in 2019.

The ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.

Established in 1966, it is owned by 68 members – 49 from the Asia Pacific region.

Economy / Top News

ADB / Asian Development Bank / Foreign Aid

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Corporates go cashless…tax cut on cards
    Corporates go cashless…tax cut on cards
  • Rising revenue collection a false dawn, economists say
    Rising revenue collection a false dawn, economists say
  • Why we must resist geoeconomic fragmentation—and how
    Why we must resist geoeconomic fragmentation—and how

MOST VIEWED

  • Producing Covid-19 vaccines gets boost with promise of ADB help
    Producing Covid-19 vaccines gets boost with promise of ADB help
  • Bangladesh receives $500m from World Bank to buy Covid-19 vaccine
    Bangladesh receives $500m from World Bank to buy Covid-19 vaccine
  • Covid help fund was there. Only we did not use them
    Covid help fund was there. Only we did not use them
  • Dutch development bank FMO invests $50m in Brac
  • Photo: Collected.
    Bangladesh largest Japanese ODA loan recipient country in Japan’s FY2020
  • Photo of World Bank. Photo: Collected
    WB to give $200m for safe water, sanitation

Related News

  • Kamal thanks ADB for budget aid during pandemic
  • ADB, LDC sign $100 million loan to support farmers and climate resilience
  • GDP growth in FY23 to stay below pre-pandemic level: ADB
  • ADB to give Bangladesh $143m to boost cross-border trade
  • Covid hit CMSMEs to get Tk400cr loan from IDB

Features

Musk is denying the sexual harassment allegation that surfaced this week. Photo: Bloomberg

Elon Musk’s crazily banal week 

15h | Panorama
Asus Zenbook 14 Flip OLED: A touch of brilliance to your life

Asus Zenbook 14 Flip OLED: A touch of brilliance to your life

18h | Brands
Keep your phone by your side with this armband

Keep your phone by your side with this armband

16h | Brands
Are Focallure gel masks worth the hype?

Are Focallure gel masks worth the hype?

17h | Brands

More Videos from TBS

Why are Duranta TV shows popular?

Why are Duranta TV shows popular?

10h | Videos
Donbas is hell, says Zelenskiy

Donbas is hell, says Zelenskiy

11h | Videos
Threat of Monkeypox on the horizon

Threat of Monkeypox on the horizon

12h | Videos
Mosque of Mughal period in Gazipur

Mosque of Mughal period in Gazipur

12h | Videos

Most Read

1
Tk100 for bike, Tk2,400 for bus to cross Padma Bridge
Bangladesh

Tk100 for bike, Tk2,400 for bus to cross Padma Bridge

2
A packet of US five-dollar bills is inspected at the Bureau of Engraving and Printing in Washington March 26, 2015. REUTERS/Gary Cameron
Banking

Dollar hits Tk100 mark in open market

3
Bangladesh at risk of losing ownership of Banglar Samriddhi
Bangladesh

Bangladesh at risk of losing ownership of Banglar Samriddhi

4
PK Halder: How a scamster rose from humble beginnings to a Tk11,000cr empire
Crime

PK Halder: How a scamster rose from humble beginnings to a Tk11,000cr empire

5
BSEC launches probe against Abul Khayer Hero and allies
Stocks

BSEC launches probe against Abul Khayer Hero and allies

6
The reception is a volumetric box-shaped room that has two glass walls on both the front and back ends and the other two walls are adorned with interior plants, wood and aluminium screens. Photo: Noor-A-Alam
Habitat

The United House: Living and working inside nature

The Business Standard
Top
  • Home
  • Entertainment
  • Sports
  • About Us
  • Bangladesh
  • International
  • Privacy Policy
  • Comment Policy
  • Contact Us
  • Economy
  • Sitemap
  • RSS

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net

Copyright © 2022 THE BUSINESS STANDARD All rights reserved. Technical Partner: RSI Lab