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.