USAID grants $202m to Bangladesh for good governance, resilience
The US Agency for International Development (USAID) will provide a $202.25 million grant to Bangladesh in three sectors – good governance; social, human, and economic opportunity; and resilience.
In this regard, the 6th amendment to "The Development Objective Grant Agreement (DOAG)" was signed on Sunday between Bangladesh and USAID at the State Guest House Padma.
Economic Relations Division (ERD) Additional Secretary AKM Shahabuddin and USAID Mission Director Reed J Aeschliman signed the amendment on behalf of the government of Bangladesh and USAID, respectively.
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Finance and Commerce Adviser Salehuddin Ahmed, visiting US Assistant Secretary for International Finance at the US Department of Treasury Brent Neiman, and US State Department Assistant Secretary for South and Central Asia Donald Lu, among others, witnessed the signing ceremony.
Regarding the financial sector reforms, Salehuddin said discussions focused on export diversification, securing technical assistance in trade, and exploring new markets. He also mentioned that there were discussions on revenue and tax reforms.
"Our engagement with top economic policymakers centred on the authorities' efforts to propel economic growth, job creation, and sustainability, including through engagement with international financial institutions," said the US Embassy in Dhaka on social media after the meeting with the Finance Adviser.
Anjali Kaur, USAID deputy assistant administrator for Asia, stated that under the new amendment, approximately $200 million in support would be provided to the interim government for priority sectors. She added that this support would help the government advance its priority initiatives and ensure inclusive prosperity for the people of Bangladesh.
Anjali highlighted that this funding would boost economic stability, improve health and governance, and empower the younger generation.
On 27 September 2021, a new DOAG was signed between Bangladesh and USAID for the period of 2021-2026. Under the DOAG, USAID has committed to contributing a total of $954 million. So far, through the 5th Amendment, USAID has provided $425 million to Bangladesh.
The two countries also discussed trade facilitation, the Rohingya crisis, the GSP facility, and Development Finance Cooperation, said the foreign secretary. The delegation is scheduled to leave Dhaka by Monday.
