April 24, 2024, 9:34 am

ADB lending $2 billion to Bangladesh

  • Update Time : Tuesday, September 20, 2022
  • 126 Time View

Staff Correspondent

In the current fiscal year 2022-23, the Asian Development Bank (ADB) will provide about $2 billion in loan assistance to Bangladesh. This money will be spent on government development projects.

ADB Country Director Edimon Ginting met Finance Minister AHM Mustafa Kamal at the Secretariat in the capital on Tuesday.

“ADB has strong relations with Bangladesh and ADB will stand by Bangladesh,” Edimon Ginting said.

According to the press release issued by the Ministry of Finance, about $2 billion of loan assistance is under process in this fiscal year for the development projects adopted as per the development goals of the government.

ADB Country Director applauded Prime Minister Sheikh Hasina for keeping Bangladesh’s economy moving amid the Covid-19 pandemic. “Bangladesh has set one of the best examples in dealing with the Covid-19 pandemic situation,” he said.

Finance Minister AHM Mustafa Kamal praised ADB for its speedy assistance in Bangladesh’s socio-economic development and especially in overcoming the harmful effects of Covid-19.

According to the press release, ADB has so far provided $27.555 billion in loan assistance to the Bangladesh government.

Later, Finance Minister thanked ADB for assisting Bangladesh to overcome the potential economic impact of the coronavirus outbreak.

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