The Financial Express

LDC graduation: ADB chief congratulates Bangladesh

Published: March 24, 2018 16:45:08 | Updated: March 25, 2018 19:40:18

LDC graduation: ADB chief congratulates Bangladesh

Asian Development Bank (ADB) President Takehiko Nakao has congratulated Bangladesh for meeting the criteria for graduation from Least Developed Country (LDC).

The ADB president congratulated Prime Minister Sheikh Hasina, the government and the people of Bangladesh for the historic achievement," he said in a video message on Friday.

ADB remains committed to building on its 45-year partnership with Bangladesh, Nakao said.

The lending agency would keep helping Bangladesh's continued economic and social progress through supporting railway, water and sewage, electricity, education and health, and promoting reforms, he added.

"ADB is proud to have supported Bangladesh's development since it joined the bank in 1973," said the ADB chief.

Takehiko Nakao mentioned that ADB has supported Bangladesh with more than $20 billion in approved loans, grants, and technical assistance since hosting a field office in Dhaka in 1982.

He said Bangladesh has made remarkable economic development and poverty reduction over the past decade.

"Its average growth rate has been about 6.3 per cent a year during the 10 years. Growth reached 7.3 per cent last year," he said.

Talking about his experiences from recent visit to Bangladesh, Nakao said, "I saw firsthand the country's significant development gains. People have better access to water and electricity, children are ambitious at schools, factories are safer, and businesses are growing,"

He again extended congratulations to Bangladesh for meeting the criteria for middle-income status.

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