BD to get $8 billion from ADB in 5 yrs, says Muhith

BD to get $8 billion from ADB in 5 yrs, says Muhith

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Yokohama – Finance Minister AMA Muhith, now attending the 50th Annual Meeting of the Board of Governors of ADB here,on Fridaysaid the donor agency will provide around$8 billion to Bangladesh over the next five yearsin various sectors as development assistance. UNB news agency reported
“ADB will provide around $ 8 billion to Bangladesh over the next five years and it’s a reasonable estimate. Although it’s proportionate, but I think Bangladesh’s performance will be better,” he told reporters after his daylong engagement at the ADB Annual Meeting in various seminars and meetings.
The veteran minister attended the ‘Governors Seminar: Lessons from 50 Years of Asian Development’ and then attended the ‘Eleventh Informal Meeting of the SAARC Finance Ministers’ chaired by Finance Minister of Nepal and also the current chair of SAARC at the Pacifico Yokohama Conference Center.
In the current fiscal year, Muhith said, the country is likely to realise commitment of $1.8 billion from the Manila-based lending agency. “Bangladesh should perform better.”
About the outcome of the Governors Seminar, he said the last 50 years have been very good for both the countries and the ADB, and the next 50 years should be better and it’s also good for Bangladesh.
About the South Asia Subregional Economic Cooperation (SASEC), the Finance Minister said it is doing well and ADB is finding that which expresses the willingness of the development agency.
Replying to a question he said Bhutan’s not ratification of the BBIN pact could led this initiative to failure.
Talking about the passage of 50 years by ADB, Muhith noted that it was their service to the nations of this big region and this 50 years had been a very good performance for them.
Bangladesh joined ADB in 1973. As of December 31, 2016, ADB’s cumulative lending to Bangladesh stood at $18.3 billion for 269 loans, $252.4 million for 422 technical assistance projects and $787.10 million for 35 grants.
As of March 31 last, ADB’s projects under implementation for Bangladesh comprised 90 loans and grants amounting to $7.6 billion; and 32 technical assistance projects amounting at $28.58 million.
ADB focuses its cooperation in Bangladesh on six sectors- energy; transport; water and other urban/municipal infrastructure and services; education; finance; and agriculture, natural resources, and rural development.
In 2016, ADB approved 10 projects for Bangladesh, with loans totaling $1.1 billion and technical assistance of $7.85 million.

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