ADB plans over $1 billion in annual financing for Bangladesh under its growth strategy

The Asian Development Bank (ADB) has outlined an annual financing pipeline of more than $1 billion for Bangladesh under the government’s Integrated Growth Network Development (IGND) initiative.

ADB Vice-President for South, Central and West Asia Yingming Yang revealed the plan during his five-day visit to Bangladesh, which ended Thursday.

The proposed financing will support reforms and investments focused on improving connectivity, boosting productivity, attracting private investment and strengthening economic resilience.

The government and ADB have also started consultations with private-sector stakeholders to promote investment. During his visit, Yang met Finance and Planning Minister Amir Khosru Mahmud Chowdhury and other senior officials to discuss the upcoming ADB Country Partnership Strategy, banking and capital market reforms, renewable energy and ways to mobilise private investment.

Yang stressed the need for Bangladesh to enhance its competitiveness, attract greater private investment and strengthen its ability to withstand external economic shocks.

He also said Bangladesh has the potential to emerge as a regional hub for transport, logistics, energy and digital connectivity through deeper regional cooperation.