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The Financial Express

ADB President Takehiko Nakao leaves city


ADB President leaves Dhaka

The Asian Development Bank (ADB) President Takehiko Nakao has left Dhaka after wrapping up his three-day official visit to Bangladesh.

The ADB president left the city by a flight of Thai Airways around 1:30 pm on Thursday, an ADB local resident mission official said.

Before his departure, Nakao visited a green garment factory in Gazipur named Viyellatex Group.

Arriving on Monday night, he spent a busy day on Tuesday inspecting various ADB-supported projects in Bhairab and Ashuganj.

The ADB president also met Finance Minister Abul Maal Abdul Muhith on Tuesday, reports BSS.

On Wednesday, Nakao met Prime Minister Sheikh Hasina at her official Ganobhaban residence before meeting the press at around 1:00 pm at the ADB's resident mission.

ADB's Country Partnership Strategy for Bangladesh proposes total assistance of $8 billion, including for non-sovereign operations, during the period 2016-2020, 60 per cent up from $5 billion in 2011-2015.

In 2016-2017, the lender approved $2.5 billion in sovereign and $600 million in non-sovereign assistance.

To support government efforts, the ADB will provide additional resources depending upon need, performance of ongoing projects, and readiness of new projects.

Bangladesh joined ADB in 1973, and in 1982 became the first ADB member to host a field office.

Till date, more than $20 billion from ADB's loans, grants, and technical assistance have been approved for the country.

Approved non-sovereign loans, equity investments, and guarantees have totalled $985.28 million.

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