BD growth a very good example: ADB

The Asian Development Bank (ADB) has said Bangladesh can be a very good example of economic growth for the other countries to follow in Asia.

Lauding the country’s impressive growth, ADB president Takehiko Nakao said this while replying to a reporters’ query during a crowded press conference in Manila, Philippines on Thursday.

The growth in these 10 years averaged about 6.3 per cent in Bangladesh and reached 7.3 per cent in 2017.

Nakao said industries like readymade garment industry, commitment to better education and stable economy played the key role in having an impressive growth in Bangladesh in the past years.

"We’re supporting Bangladesh in many areas, including infrastructure, water and Dhaka city projects," he said adding that there is a very good example of progress in infrastructure projects.

The ADB chief said they are providing support to bring more scientific and ICT-related education. "We’re also providing support [to ensure] better workplace through our technical assistance.”

The ADB President mentioned that many countries, including Bangladesh, were poor when the ADB was established.

Bangladesh has achieved high economic growth, attaining the middle-income status in July 2015 and cutting down its poverty rate significantly.

Nakao visited Bangladesh in February this year and had meetings with Prime Minister Sheikh Hasina, Finance Minister AMA Muhith

and other senior officials during the three-day visit when he committed to further strengthen ADB’s 45-year partnership with the country.

Asked about his meeting with Muhith, the ADB chief said, "I’m looking for further discussions with Bangladesh."

Finance Minister Muhith, also governor of ADB, is scheduled to have a meeting with ADB President in the Filipino capital on Sunday morning.

A delegation led by him is now visiting Manila where the annual meeting of the ADB Board of Governors has started this day. 

Responding to a question on Rohingya issue, the ADB chief said they are aware of very serious impact on Bangladesh economy due to Rohingya influx and also the humanitarian aspect of the refugee crisis.

"We’re prepared to support them. We’re waiting for their (Bangladesh -Myanmar) requests," he added.

During his recent Bangladesh visit, Nakao lauded Bangladesh’s handling of the humanitarian emergency  for an influx of more than 700,000 people from Myanmar since August 25, 2017.

He reiterated the ADB’s offer of support to help the government address the crisis, if requested.

The ADB’s Country Partnership Strategy for Bangladesh proposes total assistance of $8 billion, including for non-sovereign operations, during the period of 2016-2020, 60 per cent up from $5 billion in 2011-2015.

In 2016-2017, the ADB approved $2.5 billion in sovereign and $600 million in non-sovereign assistance.

To support government efforts, the ADB will provide additional resources depending upon need, performance of ongoing projects, and readiness of new projects.

Bangladesh joined the ADB in 1973, and in 1982 became its first member to host a field office.

To date, reports UNB, more than $20 billion in ADB loans, grants, and technical assistance has been approved for Bangladesh.

The approved non-sovereign loans, equity investments, and guarantees have totalled $985.28 million.