Although the Asian Development Bank has projected a moderate 5.1 percent GDP growth Bangladesh for 2025-26 fiscal, the forecast may need to be revised downwards due to the recent imposition of higher tariffs on Bangladeshi exports to the US, said Hoe Yun Jeong, Country Director of the ADB’s Resident Mission in Bangladesh “Our projection was done before the US sweeping tariff. So our projection was 5.1 percent for the fiscal year 2026. Obviously it will adversary affect the overall Bangladesh export to  the US and also on the overall economic progress. That 5.1 percent needed to be downgraded little bit.” Hoe Yun Jeong said on Wednesday. He said these responding to questions from the reporters after releasing the ADB’s flagship publication Asian Development Outlook (ADO) April 2025 held at the ADB office in Dhaka. In its latest report, the ADB also projected Bangladesh's GDP to grow by 3.9 percent in the current fiscal year (FY2024-25), reflecting weaker domestic demand amid ongoing political and economic challenges. This outlook was part of the ADB’s Asian Development Outlook (ADO) for April 2025. Bangladesh must diversify its products and markets for export for the medium and the long term perspective, he said. Bangladesh a land of ‘crazy ideas’ that work: Dr Yunus tells foreign investors “Of course engaging and negotiating the US government is important, but it is a short term measure. More importantly Bangladesh must diversify its products and markets for export,” he said. He also suggested that Bangladesh should take this opportunity to rationalise its import tariff structure and reform its non-tariff barriers as well  considering its tariff regime is over protective. "So, this tariff reform should apply not only to the US but also to other countries," he said.

Bangladesh is currently facing a range of macroeconomic challenges, including a slowing economy, high inflation and a decline in foreign investment, said Hoe Yun Jeong, Country Director of the Asian Development Bank (ADB) Resident Mission in Bangladesh on Wednesday. He said the country is facing a decline in foreign direct investment (FDI) and an alarming rise in non-performing loans (NPLs) within the banking sector, with insufficient foreign exchange reserves adding to the mounting pressure, hindering the country’s ability to navigate the economic turbulence. World Bank, ADB approve budget support worth $1.1 billion Yun Jeong made the remarks while delivering his introductory speech at the launch of the ADB’s flagship publication, Asian Development Outlook (ADO) April 2025, held at the ADB office in Dhaka. “Nevertheless, it is encouraging to note that the interim government has prioritised macroeconomic stability, along with institutional, social and political reforms,” Jeong said. The ADB expects inflation in Bangladesh to remain elevated, with monetary policy likely to stay tight, focusing on resolving vulnerabilities in the banking sector, particularly the issue of rising NPLs. On the external front, Jeong noted that the current account deficit is expected to narrow slightly, supported by strong remittance inflows. Bangladesh, ADB ink $600m loan deal for structural reforms In the fiscal sector, the ADB anticipates the fiscal deficit will remain close to the FY2024 level, driven by improved revenue mobilisation and increased recurrent government spending. Jeong warned of downside risks to the economic outlook, including persistent inflation, prolonged monetary tightening, political uncertainty, adverse weather events and a potential global slowdown triggered by new US tariffs. Looking ahead, he expressed the hope that the government would accelerate reforms to enhance domestic revenue collection, address high NPL levels, ensure energy security and stimulate private sector investment. He also stressed the importance of improving public investment management, especially in enhancing project readiness and implementation capacity. “As a longstanding development partner, ADB will continue to support the government through policy-based loans, project investments, and technical assistance,” Jeong said. He highlighted ADB’s focus on private sector development, disaster resilience, digital transformation, regional cooperation, and the provision of regional public goods and empowerment. “Despite global challenges, Bangladesh’s economy remains resilient. To sustain higher growth, the country must implement essential reforms without delay, especially as it prepares for its graduation from Least Developed Country (LDC) status in November 2026,” he added. Jeong also mentioned an upcoming joint report by ADB and the Organisation for Economic Co-operation and Development (OECD), titled “Roadmap for Investment Policy Reforms and Sustainable Development in Bangladesh,” which outlines key reforms needed to boost trade and attract FDI in the post-LDC graduation era. “Economic growth is only part of the equation — sustainability is the other. We reaffirm ADB’s continued support to the government in implementing necessary reforms and pursuing key projects to help Bangladesh achieve its sustainable development goals,” he said.  

The Asian Development Bank (ADB), the Posts and Telecommunications Division, BTCL, and the Public-Private Partnership Authority (PPPA) signed a memorandum of understanding (MoU) on Monday to develop Bangladesh’s first green data center under a public-private partnership (PPP) model. PPPA Director General (Finance and Administration) A K M Abul Kalam Azad, Bangladesh Telecommunications Company Limited (BTCL) Managing Director Md. Anwar Hossain PTD Additional Secretary Abul Khair Mohammad Salehuddun and ADB Country Director and Hoe Yun Jeong, signed the MoU on behalf of their respective organizations at a ceremony held at the PPPA conference room in Dhaka on Monday. World Bank, ADB approve budget support worth $1.1 billion The state-of-the-art data center will be situated on a BTCL-owned site near Chattogram and built to international standards, ensuring high availability and operational scalability. It will be powered by renewable energy, offering commercial colocation services to public and private enterprises while meeting BTCL's internal data storage needs. “This initiative marks a significant step toward achieving Bangladesh’s digital vision, integrating cutting-edge technology and sustainable practices to support the country’s digital transformation,” said Hoe Yun Jeong. The project is expected to promote private investment in the infotech sector, creating opportunities for increased capital mobilization in digital technologies, he added. Bangladesh, ADB ink $600m loan deal for structural reforms A transaction advisory services (TAS) agreement will soon be signed to implement the project under the PPP model. ADB’s TAS support will include feasibility assessment, project structuring, tendering, and capacity building for stakeholders, fostering an environment conducive to private investment in the IT sector.

World Bank and Asian Development Bank have approved budgetary support loans worth $ 1.1 billion to accelerate the interim government's reform and development activities. The total budget support is expected to be available by December this year, according to a release from Finance Ministry.  Of the total amount the World Bank will provide $500 million and ADB will give $600 million.  Bangladesh, ADB ink $600m loan deal for structural reforms In addition to the budget support, the World Bank has also approved project support of $379 million for the health and nutrition sector and  $ 280 million for the development of the water supply system in Chittagong.  On December 18, 2024, a loan agreement of $ 600 million was signed between the Government of Bangladesh and the Asian Development Bank (ADB) for the programme titled Strengthening Economic Management and Governance Program, Subprogram. On December 19, 2024, the World Bank approved the provision of $ 500 million in budget support to Bangladesh. ADB to lend USD 100 million to Bangladesh for infrastructure dev The World Bank provided this budget support under the Second Bangladesh Green and Climate Resilient Development Credit for the successful achievement of reform activities for green and climate-resilient development.  

The Asian Development Bank (ADB) and the government of Bangladesh signed a $600 million policy-based loan (PBL) agreement on Wednesday, aiming to promote structural reforms supporting domestic resource mobilisation and improving the efficiency of public investment projects. The agreement also focuses on developing the private sector, reforming state-owned enterprises and boosting transparency and good governance. Secretary of the Economic Relations Division (ERD) Md Shahriar Kader Siddiky and Deputy Country Director of the Asian Development Bank (ADB) Jiangbo Ning signed the loan agreement on behalf of Bangladesh and ADB, respectively, at a ceremony at ERD in the capital. ADB approves $600 million loan for Bangladesh “The $600 million assistance under the Strengthening Economic Management and Governance Programme (Subprogram 1) supports the government in addressing structural weaknesses in mobilising domestic resources, enabling investment climate, facilitating trade and logistics, and promoting transparency and good governance,” said Deputy Country Director Jiangbo Ning. He said that the reforms under the program aim to increase income tax revenue by 25%, and value-added tax (VAT) by 30%, while reducing development project cost overruns by 30%, and cutting average time overruns for completed projects to 18 months, by March 2027. The Strengthening Economic Management and Governance Programme aims to sequentially implement complex reforms focusing on strengthening fiscal management, improving state-owned enterprises’ (SOE) governance and investment climate, and boosting trade policy and logistics. The overall programme also includes subprogram 2, scheduled for 2026, with another $600 million. ADB pledges $24.3 million to finance establishment of solar power plant in M'singh The subprogram 1 supports the government in initiating tax expenditure rationalization, tax administration automation and digitalisation, data transparency, public investment management (PIM) system improvement, SOE governance and fiscal risk monitoring, strengthening regulatory environment streamlining, and trade facilitation. The subprogram 2 envisages to further deepen the reforms initiated under subprogram 1. In addition, the PBL aims to facilitate policy and institutional reforms to promote a “whole of government” logistics sector reform to reduce the cost of trade and promote export diversification.  

The Asian Development Bank (ADB) has approved a $100 million loan in additional financing to support critical infrastructure development through public–private partnerships (PPP) in Bangladesh.  “This project will enable Bangladesh to catalyse private sector financing, reduce pressure on public finance to address infrastructure development deficits, and create more employment,” said ADB Country Director for Bangladesh Hoe Yun Jeong on Monday. Abdul Hakim appointed as BPC Chairman “The loan will enhance the financial and institutional capacity of the Bangladesh Infrastructure Finance Fund Limited (BIFFL) to deliver its mandate of fostering an environment that supports sustainable private investments through the mobilisation of PPP, with a strong focus on gender and climate change.” Bangladesh is undergoing a transformative phase, driven by economic shifts and recent political transition and the country's infrastructure development, primarily driven by the public sector, faces challenges due to limited resources and implementation constraints, it said. The ADB loan aims to address this gap by providing long-term financing to BIFFL, facilitating the completion of critical infrastructure projects that will foster economic growth. Victims demand justice for abduction, torture by 'ex- RAB commander Faruqi' The Strengthening the Bangladesh Infrastructure Finance Fund Limited Project – Additional Financing will strengthen BIFFL’s capacity to crowd in private sector financing and facilitate new technologies brought by international sponsors and foreign direct investors. With ADB’s support, BIFFL will establish gender screening of subprojects and develop a gender equality and social inclusion strategy.

The Asian Development Bank (ADB) Board of Governors has unanimously elected Masato Kanda as ADB’s 11th President, the Manila-based lender said on Thursday. Kanda, 59, currently serves as Special Advisor to Japan’s Prime Minister and Minister of Finance. He will assume office on 24 February 2025, succeeding Masatsugu Asakawa, who will leave office on 23 February 2025, according to a press release. Kanda will complete the unexpired term of President Asakawa, which ends on 23 November 2026. “Kanda’s extensive experience in international finance and proven leadership in multilateral settings will serve ADB well in navigating complex global economic challenges and fostering international cooperation,” said Chair of the ADB Board of Governors and Governor of the Bank of Italy Fabio Panetta. “The ADB Board of Governors looks forward to working with Kanda.” With nearly 4 decades of experience, Kanda has held key leadership roles at the Ministry of Finance of Japan, including Vice-Minister of Finance for International Affairs. He has extensive experience in financial sector policy and macro-fiscal policy, having served as Deputy Commissioner at the Financial Services Agency, Deputy Director-General of the Budget Bureau, and Deputy Vice-Minister for Policy Planning and Coordination. He is also a leading expert in education and science policy as well as university reform.        Kanda has been actively engaged in the G7, G20, and other international forums, addressing key policy challenges such as multilateral development bank (MDB) evolution, pandemic prevention, preparedness and response, and debt sustainability and transparency. During his tenure as Vice-Minister of Finance for International Affairs, Japan made a record contribution of more than $1 billion to the Asian Development Fund 13th replenishment. Since 2016, Kanda has served as Chair of the OECD Corporate Governance Committee, overseeing the review of the G20/OECD Principles of Corporate Governance in 2023. ILO to launch new report highlighting wage trends, inequality today He also has substantial experience in strategic discussions and decision-making at MDBs, having served as Alternate Executive Director for Japan at the World Bank. Kanda obtained his Bachelor of Laws from the University of Tokyo in 1987 and M.Phil in Economics from Oxford University in 1991.  

Though two separate deals were signed with the World Bank and the Asian Development Bank about a year ago to install some 17.5 lakh (1.75 million) smart pre-paid metres, the Titas Gas Transmission and Distribution Company has made little progress in implementing the project. “Only some individual consultants were appointed by Titas Gas PLC. No project management consultant (PMC) has been appointed as yet,” said a senior official of the Energy and Mineral Resources Division. Explaining the significance of the PMC he said has it critical role in implementing a project as it holds the responsibility to plan and design the project. “The main technical aspects remain in the hand of the PMC. Normally one or two foreign companies are appointed as PMC”, he told UNB. Newly appointed Managing Director of the Titas PLC Shahnewaz Parvez also admitted the poor progress of the smart prepaid metre project. He, however, said that the appointment of PMC is under process and hoped that the Titas will be able to appoint the consultant soon. Official sources said Titas Gas signed two separate loan agreements in November last year with the World Bank and ADB to install a total of 17.5 lakh prepaid meters under two projects. On November 23 in 2023, Titas signed a loan agreement with the World Bank for installation of 11 lakh smart prepaid meters under the Gas Sector Efficiency and Carbon Abatement Project. The gas transmission and distribution company also signed another agreement with the Asian Development Bank on November 28 in 2023 for the installation of 6.50 lakh smart prepaid meters under the Smart Metering Energy Efficiency Improvement Project. Read: JS body recommends taking steps to gain prepaid meter consumers’ trust The government had undertaken the smart prepaid metre project for the Titas Gas PLC, to reduce the excessive system loss to a reasonable level. As the oldest and largest gas distribution both in terms of its operational area and volume of natural gas sales among the six gas distribution companies, the Titas Gas has been reeling with 7 percent system loss. Titas Gas officials said the company has to incur a loss of Tk 150-180 crore per month for its system loss. They said the entity can save Tk1,800-2,160 crore a year if such a huge system loss is checked. Titas Gas has so far installed about 3.5 lakh of prepaid gas meters for its household consumers mainly in Dhaka city with the financial support of the Japanese donor agency JICA. Its prepaid meters were installed mainly in Gulshan, Banani, Mohammadpur, Paltan, Ramna, New Market, Khilgaon and Segunbagicha areas. Titas Gas currently supplies gas to over 2.878 million consumers, including some 2.853 million household consumers, 12,078 commercial consumers, 5,429 industrial consumers, 1,755 captive power plants, and 396 CNG stations. As per the official statistics, Titas Gas alone holds 55% of the gas market share, while the other five companies have 45%. Read more: Electricity bills harassments: Postpaid consumers can turn to prepaid meters Its vast operational area covers Dhaka, Manikganj, Gazipur, Narayanganj, Munshiganj, Narsingdi, and Mymensingh. It annually sells about 14,459.41 MMCM (million cubic meters) of gas (2021-23 fiscal years), to earn a revenue of Tk26,387.12 crore.

Asian Development Bank (ADB) Vice President Yingming Yang has said he is encouraged to see Bangladesh’s advanced preparation for the post-LDC graduation era, including adequately dealing with the financing and market access challenges that will also be outlined in the next five-year plan. “I have noticed a strong drive for meaningful reforms to address medium-term economic and development challenges,” he told UNB in an exclusive interview on Thursday before wrapping up his Bangladesh visit. The vice-president who is responsible for the management of the operations of ADB’s Central and West Asia Department and South Asia Department, said the sincerity of the government in building resilience to climate change, which will help mitigate macroeconomic and fiscal risks, is laudable. Revenue-based fiscal consolidation, quality infrastructure and human capital development, diversification of trade, increasing foreign direct investment, lowering financial sector vulnerabilities along with the reduction of non-performing loans, enhancing investment climate, and strengthening governance are widely discussed and prioritised, Yang said.

The number of people aged 60 and above in developing Asia and the Pacific is set to nearly double by 2050 to 1.2 billion—or about a quarter of the total population—significantly increasing the need for pension and welfare programs as well as healthcare services, said a new report on Thursday (May 02, 2024). At the same time, economies have an opportunity to reap a “silver dividend” in the form of additional productivity from older people, which could boost gross domestic product in the region by 0.9% on average, said the Asian Development Bank (ADB). “Asia and the Pacific’s rapid development is a success story, but it’s also fueling a huge demographic shift, and the pressure is rising,” said ADB Chief Economist Albert Park.  “Governments need to prepare now if they’re going to be able to help hundreds of millions of people in the region age well. Policies should support lifetime investment in health, education, skills, and financial preparedness for retirement. Family and social ties are also important to foster healthy and productive populations of older people and maximize their contribution to society.” Developing Asia and the Pacific is unprepared to secure the well-being of its rapidly aging population as the growing share of older people in the region face challenges from low pension coverage to health problems, social isolation, and limited access to essential services, according to the multilateral development bank. ADB, WTO strengthen collaboration for sustainable economic growth in Asia-Pacific region While longer lifespans reflect the region’s development success, comprehensive policy reforms are urgently needed to support the welfare of older people, according to “Aging Well in Asia: Asian Development Policy Report,” released on Thursday by the Asian Development Bank (ADB) at its 57th Annual Meeting. According to the report, 40% of people over age 60 in Asia and the Pacific lack access to any form of pension—with women disproportionately affected, as they are more likely to do unpaid domestic work.  As a result, many older people in the region have no choice but to work well beyond retirement age to survive.  Among those still working at age 65 or older, 94% work in the informal sector, which typically doesn’t provide basic labor protections or pension benefits. Physical and mental health challenges also increase with age.  FBCCI urges govt policy to facilitate backward linkage industries Around 60% of older people in Asia and the Pacific do not attend or receive regular health checks, while 31% report depressive symptoms owing to illness, social isolation, and economic insecurity.  Older women in the region are also more likely than older men to suffer from ill health, from depression to diabetes and hypertension.  The report recommended a wide range of policy measures to support healthy and economically secure aging.  Among these are government-assisted health insurance and pension plans, improved health infrastructure, and free annual check-ups and lifestyle evaluations.  Policy makers should aim for universal healthcare coverage, while basic labor protections should be extended to older informal workers, according to the report. By making mandatory retirement ages more flexible, helping older people stay healthy, and providing them with suitable work opportunities as well as lifelong learning and skills development, economies in the region can help older people stay productive longer. Read more: Developing Asian economies’ growth expected to be sustained at 4.9% this year and the next, ADB President says ahead of Annual Meeting