The Asian Development Bank (ADB) has agreed to provide a $300 million loan to strengthen skills of workforce in Bangladesh.
The Asian Development Bank (ADB) has mobilised $261 million of private sector capital for a four-lane, 13.5-kilometre expressway between Dhaka and other major cities in order to ease traffic congestion and provide better connectivity.
The latest forecast by the Manila-based multilateral lender is close to the estimate by the Bangladesh Bureau of Statistics (BBS) at 6.03 percent for the FY23.
This loan is for its ongoing “Rural Connectivity Improvement Project” in the country, the ADB said in a statement today.
The assistance forms the third part of $1.5 billion ADB loans for the SASEC Chattogram-Cox’s Bazar Railway Project.
About $1 billion in budget support is set to arrive in the next few days from three development partners to help the government meet its deficit financing for this fiscal year.
The funding will also help advance reforms in domestic resource mobilisation, improve efficiency and productivity of public spending, and small businesses, especially women-led businesses to access low-cost innovative bank financing.
Floods devastated north-eastern part of Bangladesh in May, June last year
The Asian Development Bank (ADB) today said Bangladesh's gross domestic product (GDP) is expected to grow by 5.3 per cent in the ongoing fiscal year, down from the 6.6 per cent it projected earlier.