The Asian Development Bank (ADB) and the Government of Bangladesh on Tuesday (November 28, 2023) signed a $100 million loan agreement to improve computer science, software engineering, and information technology (IT) programs in three universities in Bangladesh. Md. Shahriar Kader Siddiky, Secretary, Economic Relations Division (ERD), and Edimon Ginting, Country Director, ADB, signed the loan agreement on behalf of Bangladesh and ADB, respectively, at a ceremony at ERD in Dhaka. “This project will help accelerate fourth industrial revolution technology adoption, realize the vision of Digital Bangladesh, and enable the country to reap the demographic dividend by creating digitally qualified young human resources and entrepreneurs,” said ADB Country Director Edimon Ginting. “This new initiative builds on ADB’s ongoing skills development support through industry partnerships to increase competitiveness and foster innovation,” he said. Read: ADB to provide $200 million to promote energy efficiency, transition in Bangladesh The Improving Computer and Software Engineering Tertiary Education Project will upgrade the computer science and engineering, software engineering, and information technology degree programs of the leading public universities in Bangladesh. The universities receiving the funding are: Bangladesh University of Engineering and Technology (BUET), University of Dhaka (DU), and Jashore University of Science and Technology. These programs will adopt blended learning techniques and integrate the latest technologies such as artificial intelligence, robotics, and internet of things. These programs will seek international accreditation to ensure that students get updated curricula that adhere to international standards. Read: ADB to lend $336.5 million to Bangladesh to help develop vaccine production ADB will support the establishment of modern classrooms and laboratories, collaboration and start-up spaces, and auxiliary facilities in the three universities. These facilities will incorporate climate- and disaster-resilient designs, energy- and water-saving features, and will include women-friendly amenities and services. The universities will develop capacities of teachers to be proficient in new instructional approaches and emerging digital technologies. The students and teachers from the three and other universities will also work with industry partners to come up with innovative solutions through joint research and development. Mandatory internship opportunities, career counseling, and industry placement will be provided to undergraduate students, particularly for women. Read: ADB provides $90 million for clean water, sanitation services in the Hill Tracts

Bangladesh and the Asian Development Bank (ADB) on Monday signed an agreement for $250 million in policy-based loan to support Bangladesh’s economic recovery following the coronavirus disease (COVID-19) pandemic. The assistance is under the first subprogram of the programmatic $500 million Sustainable Economic Recovery Program, according to a press release. Economic Relations Division (ERD) Secretary Fatima Yasmin and ADB country director Manmohan Parkash signed the loan agreement on behalf of Bangladesh and ADB, respectively at a hotel. Also read: Bangladesh and ADB jointly launch country partnership strategy The Sustainable Economic Recovery Program will facilitate a rapid and sustainable recovery from the COVID-19 pandemic, generate employment, and expand economic activities for micro-entrepreneurs and small businesses.

Bangladesh and the Asian Development Bank (ADB) on Monday signed an agreement for $400 million in loan for constructing the Dhaka-Sylhet highway to improve mobility, road safety, and regional trade in the proposed north-east economic corridor in the country.The assistance is the first tranche of a $1.78 billion multi tranche financing facility approved by ADB on 27 August 2021 for the SASEC Dhaka–Sylhet Corridor Road Investment Project, according to a press release.Economic Relations Division (ERD) Secretary Fatima Yasmin and ADB country director Manmohan Parkash signed the loan agreement on behalf of Bangladesh and ADB, respectively at a hotel.The Dhaka–Sylhet corridor, once completed, will support a new trade route that connects Chattogram port with India’s north-eastern states through the three land ports of Akhaura, Sheola, and Tamabil, and onwards to Bhutan and Myanmar. Also read: Bangladesh and ADB jointly launch country partnership strategyThe project is the main part of Road Corridor No. 5 under the South Asia Sub regional Economic Cooperation (SASEC) program.Transport and trade facilitation are among the priorities of SASEC members, which since 2001, have invested more than $14.3 billion in projects in the region, including 43 transport projects worth $11.4 billion.The SASEC Dhaka–Sylhet Corridor Road Investment Project will be delivered in four tranches.The $400 million first tranche of the facility will help finance the initial works of the major contracts for the widening of about 210 kilometres (km) along the Dhaka–Sylhet corridor from a two-lane to a four-lane road, and add lanes for slow-moving vehicular traffic. Also read: ADB to provide Bangladesh $250 million for Covid recoveryIt will include 60 km of footpath, 26 footbridges, and 13 overpasses. Its design will have features responsive to the needs of the elderly, women, children, and the differently abled, as well as disaster and climate risks.The government will fund $911 million of the total project cost of $2.69 billion. ADB will also provide a $1 million technical assistance grant from its Technical Assistance Special Fund and an additional $2 million grant from the Japan Fund for Prosperous and Resilient Asia and the Pacific, financed by the Government of Japan, to support capacity building of the Roads and Highways Department on road safety and maintenance, climate change, and gender equality and social inclusion.ADB Country Director Manmohan Parkash said that the Dhaka-Sylhet Road will open up opportunities for the entire north-east region of Bangladesh and act as a strategic corridor for subregional, regional and international trade.“The region is well endowed, and the corridor, which is a part of the Asian Highway network, will connect upcoming economic zones in the Sylhet region, catalyse foreign direct investment, reduce transportation and trading costs, increase competitiveness, create employment, and stimulate economic development,” he said.He also mentioned that it will connect ports and industrial hubs like Chattogram and Matarbari, and integrate the region with the rest of the economy.

The Asian Development Bank (ADB) Friday approved a $250 million policy-based loan to support Bangladesh's economic recovery following the Covid-19 pandemic. This is the first subprogramme of the programmatic $500 million Sustainable Economic Recovery Programme. The objective of the Sustainable Economic Recovery Programme is to facilitate rapid and sustainable recovery from the pandemic, generate employment, and expand economic activities for micro-entrepreneurs and small businesses. This will be pursued through policy reforms that will create fiscal space to enhance public expenditure and support the recovery and growth of cottage, micro, small, and medium-sized enterprises (CMSMEs). The loan will support the government's planned public investment in education, health, social protection, and infrastructure and help to stimulate economic activities and economic recovery. It is also aligned with the core objectives of the country's Eighth Five-Year Plan and supports the aspiration of Bangladesh to become an upper-middle-income country by 2031. Read: ADB unveils new partnership strategy for Bangladesh "The fiscal space created under the programme will allow the government to prioritise expenditures and upscale investment in social and economic infrastructure," said ADB Principal Financial Management Specialist Srinivasan Janardanam. "The programme is expected to increase the efficiency in public investment management and create a favourable environment for access to credit, particularly for the poor and vulnerable."

The Asian Development Bank (ADB) on Friday approved a $250 million policy-based loan to Bangladesh to help finance reforms. It is aimed at improving the inclusiveness and responsiveness of the country’s social development and resilience program, according to a release from ADB. Bangladesh has made remarkable progress in reducing poverty over the past 2 decades. The poverty incidence declined from 48.9% in 2000 to 20.5% in 2019. However, while many people were lifted from extreme poverty, a considerable number continue to live at a subsistence level. Also read: Climate Change to get priority in Bangladesh alongside Covid support:ADB The coronavirus disease (COVID-19) pandemic has significantly affected the socioeconomic situation of Bangladesh with the decline of the country’s gross domestic product to an estimated 5.2 % in fiscal year (FY) 2020 from 8.2% in FY 2019. “Enhancing social protection support is critical to cushioning the effects of the pandemic,” said ADB Senior Social Sector Specialist for South Asia Hiroko Uchimura-Shiroishi. He said that the ADB supports the government’s intention to leverage the COVID-19 pandemic as an opportunity to strengthen its social protection programs as an essential means of building the resilience of the poor and supporting an inclusive recovery. Also read: Covid fallout: ADB lowers Bangladesh's FY21 growth forecast According to the release, the Strengthening Social Resilience Program will include institutional and policy reforms to address cross-sector issues of social development in Bangladesh. These include improving the coverage and efficiency of the social protection system through improving the administrative efficiency of social protection management. The program will expand its outreach to vulnerable women by increasing the coverage of both the old age allowance for women over 62 and the allowance for widowed, deserted, and destitute women in 150 sub-district units or upazilas. Also read: Post-pandemic recovery in Bangladesh: ADB to accelerate project implementation Other reforms include promoting the use of mobile financial services and simplifying identification and documentation requirements for opening a bank account and broadening the scope of social protection from mere poverty relief to life cycle social and health responses, including social insurance system. ADB will also provide a technical assistance grant to support program implementation, policy analyses, and capacity development for social development-related ministries. The technical assistance is estimated to cost $1.2 million which will be financed on a grant basis by the Japan Fund for Poverty Reduction.

The Asian Development Bank (ADB) and the government on Monday signed agreements for $50 million in additional loan to help restore the economic activities of microenterprises in Bangladesh, which have been severely affected by the COVID-19 pandemic.