Process is underway to provide nearly US$2.0 billion for implementation of development projects in Bangladesh this fiscal year, the Asian Development Bank (ADB) assures, as the country looks for forex.
Country director of the ADB for Bangladesh Edimon Ginting stated this at a meeting with Finance Minister AHM Mustafa Kamal Tuesday at the latter's secretariat office in Dhaka.
He said, "The loans will be given for projects taken in line with government's development targets," says an official release on the meeting.
Mr Ginting said ADB would continue supporting Bangladesh's rural and urban development and also encourage investment in climate-resilient sectors.
He praised government's role in keeping the wheel of the economy running during the Covid-19 pandemic period.
During the discussion, the finance minister thanked the ADB for coming forward to help Bangladesh with financial assistance to recover from the impacts of Covid-19 pandemic on the economy.
Mr Kamal urged the ADB country director to extend further cooperation in "successfully facing the possible challenges in the post-LDC period".
The Asian development financier has so far provided $27.55 billion in assistance to Bangladesh which mainly went for improving situation in power, education, transport, energy, water resources, agriculture, local government, governance, and private sectors.
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