The Asian Development Bank (ADB) will prioritise its assistance towards Bangladesh for graduation from LDC, climate change and sustainable development goals.
This is to help the country achieve its goal of becoming an upper middle-income country by 2031 and a high-income country by 2041.
ADB Vice-President Shixin Chen made this commitment during his meeting with Prime Minister Sheikh Hasina on May 9 in Dhaka, according to an ADB release.
He also reaffirmed ADB’s commitment to supporting rapid recovery from the COVID-19 pandemic, as well as inclusive, resilient, and green development in Bangladesh.
“In alignment with the government’s policies, ADB’s support for Bangladesh will focus on boosting competitiveness, employment, and private sector development; promoting green growth and climate resilience; and strengthening human capital and social protection," Chen told the PM at the meeting.
In his meeting with the finance minister and ADB Governor A H M Mustafa Kamal, Chen commended the overall management of the economy and swift actions to support strong economic recovery from the pandemic.
He also emphasized the importance of continued prudent macroeconomic management, in the backdrop of heightened external risks.
Chen also met Railway Minister Nurul Islam Sujon and discussed reforms to improve operational efficiency of the railways, faster project implementation, and ensure high project readiness for potential future projects, including the Dhaka–Cumilla chord line project currently being prepared with ADB’s support.