The Asian Development Bank (ADB) will provide 1.2 billion in loan assistance to Bangladesh. The company will provide the loan to strengthen the competitiveness of Bangladesh, increase employment, develop the private sector, green industrialization, increase climate resilience and strengthen human resources and social security.
In the next 5 years (2021-2025) Bangladesh will get this assistance in phases
The new Country Partnership Strategy (CPS) was announced on Tuesday (September 21st) at the ADB headquarters in Manila, the capital of the Philippines.
The ADB said that with this assistance, Bangladesh’s development will be greatly enhanced through investment in the public and private sectors. This will fulfill the aspiration of becoming an upper-middle income country by 2031. Besides, it will help the socio-economic sector to recover from the epidemic.