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ADB to offer $500 mn soft loan to Bangladesh as budget support
16 Sep '22
1 min read
Pic: Shutterstock
The Asian Development Bank (ADB) will offer $500 million to Bangladesh as budget support on soft conditions, country director of the Manila-based lending agency in Bangladesh Edimon Ginting recently said after meeting planning minister MA Mannan at the latter’s office. Other lenders would come forward as co-financiers, he told reporters.
The budget support will also support the government’s agenda to accelerate implementation of policies on climate change, he was quoted as saying by Bangla media reports.
Mannan said the loan will help rehabilitate the flood-affected population.
ADB had earlier pledged to offer $9.05 billion to Bangladesh over the next three years. This support would be aimed at ensuring necessary preparation to make a successful graduation from the least developed country (LDC) status in 2026.
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