The Asian Development Bank (ADB) will provide Bangladesh with $1.4 billion in financing and assistance for four major development projects aimed at strengthening economic management, social protection and infrastructure development.
The financing agreement was signed on Sunday between the Economic Relations Division (ERD) under the Ministry of Finance and the Asian Development Bank at a bilateral signing ceremony held at a hotel in Dhaka.
Speaking at the event, Finance Minister Amir Khosru Mahmud Chowdhury said the ADB’s timely financial support would play an important role in implementing Bangladesh’s development plans amid ongoing global economic uncertainty linked to the recent Middle East conflict.
He described the ADB’s quick response as highly commendable and said such cooperation from multilateral development partners would help Bangladesh maintain economic stability and continue its development activities.
Under the agreement, the $1.4 billion assistance package will support four projects: the Strengthening Economic Management and Governance Program (Subprogram 2), the Second Strengthening Social Resilience Program (Subprogram 2), the South Asia Subregional Economic Cooperation (SASEC) Dhaka-Sylhet Corridor Road Project, and the Narayanganj Green and Resilient Urban Development Project.
The finance minister also welcomed the ADB president and members of the visiting high-level delegation. He said a separate announcement regarding a Nationwide Integrated Development Project is expected during a meeting between the ADB president and Prime Minister Tarique Rahman on Monday.
According to the minister, the long-term development initiative aligns with the government’s election commitments and broader national development priorities and is expected to contribute significantly to improving living standards across the country.
He also expressed optimism that the longstanding partnership between Bangladesh and the ADB would continue to play a stronger role in supporting sustainable economic and social development in the coming years.
