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ADB commits 8 bln USD loan for Bangladesh under new partnership

Xinhua, November 2, 2016 Adjust font size:

The Asian Development Bank (ADB) has committed to providing 8 billion U.S. dollars in loans to support Bangladesh under a new five-year partnership.

Kazuhiko Higuchi, country director of ADB's Bangladesh office, made the announcement at the launching of "Bangladesh Country Partnership Strategy, 2016-2020" in capital Dhaka on Wednesday.

The Manila-based lender said it will increase public- and private-sector lending to Bangladesh to 8 billion U.S. dollars for 2016 through 2020 to help the country build the infrastructure and skills needed for a strong, diversified economy and to strengthen trade links within the region.

In the previous Country Partnership Strategy or CPS period of 2011-2015, ADB said its lending to Bangladesh exceeded 5 billion U.S. dollars.

The new Bangladesh CPS adopts a broad-based approach in order to respond flexibly to the demand of the country, it said.

Based on ADB's core strengths, the CPS will help ease infrastructure constraints, boost human capital, promote economic corridor development, improve rural livelihoods, and provide climate-and-disaster-resilient infrastructure and services, it added. Endit