Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
The Asian Development Bank (ADB) has reaffirmed its support for Bangladesh focusing on development cooperation, policy reforms, and climate resilience in the context of the county's upcoming graduation from least developed country (LDC) status.
The assurance came at a meeting between Finance Adviser Dr Salehuddin Ahmed and ADB President Masato Kanda in Milan, Italy, says a press release issued in Dhaka on Thursday.
The finance adviser conveyed Bangladesh's deep appreciation for ADB's "steadfast support" across infrastructure, energy, education, health, and climate resilience.
He highlighted the cumulative ADB portfolio in Bangladesh - now totals US$ 32.5 billion, including $2.94 billion in FY 2023-24 - as a testament to this strong cooperation.
As Bangladesh is transitioning out of LDC status, the adviser emphasised the importance of aligning ADB's support with the country's evolving development needs.
He noted that this moment of transformation is also marked by a significant political shift, led by a historic student movement and a reform-mandated government.
In this context, he urged the ADB to support Bangladesh's reform agenda, with a focus on governance, transparency, and public service delivery.
The adviser proposed deepening the ADB's engagement in strategic areas like integrated river management and a blue economy master plan, digital transformation of the health sector, modernisation of tax administration and investment in future-ready education and skills.
He also highlighted the urgent need for ADB's assistance in sustainable urban development, including smart, climate-resilient cities, enhanced municipal services, and regional urban infrastructure.
Also the adviser sought ADB's support in expanding renewable energy generation and regional energy trade.
"Enhanced concessional support from ADB is not only vital for sustaining Bangladesh's development momentum, but also a strategic investment in regional stability, effective climate action, and inclusive growth," the finance adviser said.
He called for a recalibrated ADB concessional financing approach tailored to the needs of transitioning economies.
Praising Bangladesh's economic progress and resilience, ADB President Masato Kanda stated that the ADB has placed special importance on Bangladesh since the very beginning.
He said the issues raised by Bangladesh at this year's Annual Meeting will be taken into serious consideration.
Emphasising ADB's continued commitment, he expressed the hope that the bank will always stand by Bangladesh, as it has from the outset, in supporting the country's social and economic security.
syful-islam@outlook.com