Hasina’s return as PM was needed: ADB’s country director

Asian Development Bank Country Director Edimon Ginting today said Sheikh Hasina's return as prime minister was very much needed for the sake of Bangladesh.

"For a better future of Bangladesh, her return was very much needed," PM's deputy press secretary M Shakhawat Moon quoted the ADB country director as saying while briefing reporters.

The meeting was held at the PM's official residence Gono Bhaban.

He said that the ADB country director congratulated the prime minister on her reelection as the prime minister for the fourth consecutive time.

"The ADB is very much happy," Edimon Ginting told the premier.

He mentioned that the ADB is working with Bangladesh as a development partner for a long time.

"We are always ready to do the same in the coming days, and we are always ready to work with Bangladesh," he said.

He expressed interest in working with Bangladesh in the energy sector and climate change issues.

The ADB country director also said that they wanted to expand their programme on the Climate Rehabilitation Project in Cox's Bazar.

The prime minister requested them to do the same in the hill districts.

She said the ADB's continuous support is needed for Bangladesh. "Hopefully you will continue your support," she said.

Hasina thanked the ADB for continuously supporting Bangladesh in its development endeavours undertaking value-adding projects in its prioritised sectors.

She also thanked the ADB for reaching its commitment to ever highest amounting to $ 3.6 billion in the last year.

Hasina requested the ADB to undertake projects catering to the needs of graduation challenges of Bangladesh economy where improvement of logistics infrastructure and service delivery should be of utmost priority.

She said that given the climate vulnerabilities and climate emergencies, Bangladesh expects to have a larger share of the ADB's climate finances.

The PM requested the ADB to scale up its grant and concessional climate finances for Bangladesh to develop a pipeline of high-quality climate projects and programmes to support climate outcomes in alignment with its national aspirations, manifested in 'Mujib Climate Prosperity Plan 2022-2041', 'National Adaptation Plan' and 'Bangladesh Delta Plan 2100'.

She thanked the ADB for its recent approval of $400 million.

She informed the ADB that there are a number of budget supports in the pipeline for FY 2023-24 and 2024-25 on which ADB may start discussions earlier to ensure their approval within the stipulated time-frame.

Sheikh Hasina expected that the ADB will continue to finance Bangladesh's priority sectors to help Bangladesh maintain its growth momentum and carry out the future vision of a 'Smart Bangladesh'.

"The ADB will continue to finance projects in its prioritised sectors," she said.

The prime minister mentioned that as Bangladesh's economy is advancing towards a high growth trajectory, it is desirable that the ADB will put large impetus on undertaking projects that will reduce digital gap, accelerate trade competitiveness, transfer advanced and low-carbon technologies, generate green energy, promote climate-resilient agriculture, diversify export, develop smart city, and enhance skills and capacities.

She indicated that Bangladesh might require additional financial support to cope with its macro and overall economic challenges in the underlying war situation and its impacts on the global economy.

In this connection, she expected that the ADB would keep additional countercyclical and policy-based lending (PBL) support measures in its pipeline so that Bangladesh can use them immediately, in case of necessity.