The Asian Development Bank (ADB) will lend $5 billion to Bangladesh over the next five years, the agency announced on Monday, as the country confronts increasing economic strain from global conflicts and domestic financial issues.
ADB President Masato Kanda announced the money during a visit to Dhaka. It will help the Integrated Growth Network Development Initiative, which aims to improve connectivity, increase investment, and promote more balanced regional development.
Kanda met with Prime Minister Tarique Rahman and other top officials to discuss Bangladesh’s development priorities, economic reforms, and external finance needs.
The statement comes as Bangladesh’s import-dependent economy deals with the consequences of the US-Israeli war on Iran, which has raised costs for petroleum, liquefied natural gas, fertilizer, and shipping. Inflation remains high, and the financial sector faces ongoing liquidity stress.
“Bangladesh is entering a critical new phase,” Kanda told the Manila-based Asian Development Bank. “ADB will help the country protect stability, unlock new sources of growth and build a more diversified and resilient economy.
Also Read:
The Rise of Humanoid Robots with Language and Boxing Skills in Hong Kong
