ADB approves $400m loan to support Bangladesh's economic recovery
The Asian Development Bank (ADB) today approved a 400 million US dollar loan to Bangladesh to advance reforms in domestic resource mobilisation, improve efficiency and productivity of public spending, and help small businesses, especially women-led businesses to access low-cost innovative bank financing.
This loan is ADB's second subprogramme of the Sustainable Economic Recovery Program that was launched in October 2021 to support economic recovery after the Covid-19 pandemic, reads a press release.
'This subprogramme enables Bangladesh to enhance revenues, promote efficiency and transparency in public spending and public procurement, deepen the reforms of state-owned enterprises, and help small businesses and microentrepreneurs to access low-interest affordable credits from the banking sector,' said ADB Principal Public Management Economist for South Asia Aminur Rahman.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members-49 from the region.
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