ADB VP meets PM Sheikh Hasina, reaffirms stronger support

Chen said ADB will prioritize assistance to help the country achieve its aspiration of becoming an upper-middle-income country by 2031 and a high-income country by 2041

Asian Development Bank (ADB) Vice-President Shixin Chen met Bangladesh Prime Minister Sheikh Hasina on May 9 in Dhaka and reaffirmed ADB’s commitment to supporting rapid recovery from the Covid-19 pandemic, as well as inclusive, resilient, and green development in Bangladesh.

During the meeting, Chen said ADB will prioritize assistance for least developed country graduation, climate change, and sustainable development goals to help the country achieve its aspiration of becoming an upper-middle-income country by 2031 and a high-income country by 2041.

“In alignment with the government’s policies, ADB’s support for Bangladesh will focus on boosting competitiveness, employment, and private sector development; promoting green growth and climate resilience; and strengthening human capital and social protection,” said Chen.

In his meeting with Finance Minister and ADB Governor AHM Mustafa Kamal, Chen commended the overall management of the economy and swift actions to support strong economic recovery from the pandemic.

He also emphasized the importance of continued prudent macroeconomic management, in the backdrop of heightened external risks, reads a press release.

Chen met Railways Minister Nurul Islam Sujon and discussed reforms to improve the operational efficiency of the railways, faster project implementation, and ensure high project readiness for potential future projects, including the Dhaka–Comilla chord line project currently being prepared with ADB’s support.

Chen also met with the Planning Minister M A Mannan and assured ADB’s continued support for the implementation of Delta Plan 2100, education, health, energy, railway development, and blue ocean economy.

During his six-day visit to Bangladesh on May 8, Chen also held discussions with other senior officials, development partners, and representatives from the private sector.

He also visited the ADB-assisted South Asia Sub-regional Economic Cooperation (SASEC) Chittagong–Cox’s Bazar railway project, the second Chittagong hill tracts rural development project, power system efficiency improvement project, and power system expansion and efficiency improvement investment program, and interacted with project beneficiaries.

ADB’s cumulative assistance to Bangladesh since 1973 amounted to about $48 billion as of December 31, 2021, including loans, grants, and co-financing.

ADB’s active portfolio in the country stands at around $11 billion with 50 projects as of April 2022.

Established in 1966, it is owned by 67 members—48 from the region.