ADB pledges to help attain middle-income nation status by 2021

Asian Development Bank (ADB) will help Bangladesh make progress toward the Millennium Development Goals (MDGs) and turn it into a middle-income country by 2021 as pledged by the government of Sheikh Hasina.

The assurance was given by visiting ADB Vice-President Xiaoyu Zhao during his meeting with Prime Minister Sheikh Hasina at her office yesterday.

The ADB senior executive also assured the prime minister of the bank's support to address the adverse effects of global financial crisis, infrastructure development and promote regional cooperation, particularly in sub-regional energy cooperation, transport connectivity and tourism development.

“We look forward to working more closely with the new government to secure further development of the country and help realise its vision,” he told the prime minister, according to a statement issued by the ADB's Bangladesh resident mission.

Zhao said ADB stands ready to support the government to overcome any adverse effects of the global financial crisis and achieve a more inclusive socioeconomic development by raising investment in health, education, and agriculture, among other sectors.

“We're firmly committed to assisting the government in scaling up the pace of infrastructure development, increase power production and ensure energy security,” said the ADB VP.

He added that the ADB is keen to assist the government in promoting regional cooperation, particularly in sub-regional energy cooperation, transport connectivity and tourism development. “We appreciate Prime Minister Sheikh Hasina's commitment to forge a strong regional cooperation.”

Zhao said they are encouraged to see the government's commitment to continue the reforms initiated during the caretaker administration.

“As a trusted development partner of Bangladesh, ADB also remains fully committed to assisting Bangladesh to face the critical development challenges ahead, including climate change.”

He mentioned that the collaboration between Bangladesh and ADB has increased substantially. In 2008, disbursements of ADB funds reached a record of $ 615.64 million, with contract awards of $ 506.17 million.

“We're particularly encouraged in this context by the government's commitment to expedite project implementation and stand ready to work together to help fulfill this important objective, especially against the background of the global financial crisis,” said the visiting ADB vice president.