ADB engages with interim govt to support development
Since 1973, ADB has provided Bangladesh with $31.8 billion in loans, grants, and technical assistance for various development projects
The Asian Development Bank (ADB) has reaffirmed its commitment to collaborating with the interim government to support Bangladesh's development.
"ADB is fully committed to our long-standing partnership with Bangladesh, supporting its sustainable development in alignment with the aspirations of its people," said Gobinda Bar, a spokesperson for the Manila-based lender, in a statement on Wednesday (14 August).
"Our collaboration with the interim government will work to ensure the continuation of ongoing projects and support for a more inclusive, resilient, and sustainable future for the people of Bangladesh," he said.
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This is a boost for the administration led by Professor Muhammad Yunus, which has been struggling to revive the country's fragmented economy, plagued by the misrule of the ousted Sheikh Hasina government.
The ADB statement says a core focus of the lender'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 towards macro-fiscal sustainability, including a focus on fiscal consolidation and domestic resource mobilisation," Bar said.
A second priority is the expansion of private sector development to enhance competitiveness and create new employment opportunities. This includes working with the interim government to streamline government-to-business services to reduce the cost of doing business in Bangladesh, according to the statement.
The statement mentioned that climate change is a critical challenge. Bangladeshi communities increasingly suffer from floods, droughts, and intense heat.
The multilateral lender 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, it continued.
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," said the spokesperson.
