Finance Minister Abul Hassan Mahmood Ali has appealed to the Asian Development Bank (ADB) for budgetary assistance, aiming to facilitate Bangladesh’s seamless transition from its least developed country (LDC) status.

Reports underlined this citing a press note issued by the concerned ministry in this regard while adding this appeal was made during his discussions with ADB president Masatsugu Asakawa on the sidelines of the 57th annual meeting of the ADB in Tbilisi, Georgia.

This finance minister underscored the necessity for policy-based lending from the ADB to enact reforms concerning trade policy, logistics, climate resilience, and the process of LDC graduation.

Additionally, he urged the ADB to enhance concessional climate finance and support cross-border energy trade initiatives even as he emphasised the importance of ADB assistance in initiatives related to tax reform and the development of key sectors such as jute, leather, and tourism.

These efforts align with Bangladesh’s broader economic diversification strategy.

In response, ADB president Asakawa commended the Bangladesh government’s robust climate and development agenda, reaffirming the ADB’s commitment to supporting priority sectors in Bangladesh.

Hassan participated in a high-level panel discussion titled “Harvesting Hope: Ensuring a Food Secure, Climate-Resilient Asia and the Pacific,” where he highlighted Bangladesh’s remarkable agricultural achievements despite land scarcity.

Fibre2Fashion News Desk (DR)

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