ADB chief says bank will extend support to Bangladesh even after LDC graduation

The Asian Development Bank will extend its support to Bangladesh even after its graduation to a developing country, said its president Takehiko Nakao on Thursday.

Praising Prime Minister Sheikh Hasina’s leadership, he said the ADB will help reform Bangladesh’s different initiatives she is very much committed to.

Replying to a question of this correspondent at a press briefing at the second day of the 52nd Annual Meeting of the ADB at Nadi in Fiji on Thursday, Mr Nakao said:

“Prime Minister Sheikh Hasina wants to be a partner with ADB regarding railway reforms, port reforms and water projects and education.”

She is enthusiastic regarding the education of younger girls, especially in the area of science, the ADB president added.

He hailed Bangladesh's current performance in the textile and garment sector, saying production in that sector is now much better and more sophisticated now.

When asked about the extended financing, he said that at this moment both the concessional and concessional loan support to Bangladesh is going on.

"And last year, we have provided US$100 million grant for the refugees from Myanmar. Thus, the ADB will extend its full support to Bangladesh even after graduating as  a non-LDC country," he said.

Meanwhile, the ADB president also hailed the ADB-funded Dhaka WASA project, saying that before the project there were lots of leakages in bill payments by the customers.

“But when the project is implemented, the revenue earnings of the WASA has gone up,” he added.

The ADB Thursday launched the Action Plan for Healthy Oceans and Sustainable Blue Economies for the Asia and Pacific region at the ADB’s Board of Governors meeting, under which the Manila-based donor will provide US$5 billion from 2019 to 2024.

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