Bangladesh growth can be very good example for other Asian countries: ADB President | 2018-05-03 |

Bangladesh growth can be very good example for other Asian countries: ADB President

UNB     3rd May, 2018 12:42:33 printer

Bangladesh growth can be very good example for other Asian countries: ADB President

Asian Development Bank (ADB) President Takehiko Nakao on Thursday highly appreciated Bangladesh's impressive economic growth saying that the success stories of the country can be a very good example for other Asian countries.


"I hope this kind of example can be a very good example for other Asian countries as well," he told UNB while responding to a question at a crowded press conference at the ADB headquarters.


The growth in these 10 years averaged about 6.3 percent in Bangladesh and reached 7.3 percent in 2017.


Nakao said industries like readymade garment industry, commitment to better education and stable economy played the key role in having an impressive growth in Bangladesh in the past years.


"We’re supporting Bangladesh in many areas, including infrastructure, water and Dhaka city projects," he said adding that there is a very good example of progress in infrastructure projects.


The ADB President said they are providing support for education sector to bring in more scientific and ICT-related education. "We’re also providing support [to ensure] better workplace through our technical assistance," Nakao said.


He said their lending to Bangladesh is "very strong" and will continue that support.


The ADB President mentioned that many countries, including Bangladesh, were poor when the ADB was established.


This high economic growth has enabled Bangladesh to attain the middle-income status in July 2015 and helped cut poverty from about 49 percent in 2000 to 24 percent in 2016.


Nakao visited Bangladesh in February this year and had meetings with Prime Minister Sheikh Hasina, Finance Minister AMA Muhith and other senior officials during the three-day visit when he committed to further strengthen ADB’s 45-year partnership with the country.


 Asked about his meeting with Muhith, the ADB chief said, "I’m looking for further discussions with Bangladesh."


Finance Minister Muhith is scheduled to have a meeting with ADB President here on Sunday morning.


Responding to a question on Rohingya issue, the ADB President said they are aware of very serious impact on Bangladesh economy due to Rohingya influx and also the humanitarian aspect of the refugee crisis.


"We’re prepared to support them. We’re waiting for their (Bangladesh -Myanmar) requests," said.


During his recent Bangladesh visit, the ADB President commended Bangladesh’s handling of the humanitarian emergency that has seen an influx into its borders of over 700,000 people from Myanmar since August 25, 2017.


Nakao reiterated ADB’s offer of support to help the government address the crisis, if requested.


ADB’s Country Partnership Strategy for Bangladesh proposes total assistance of $8 billion, including for non-sovereign operations, during the period of 2016-2020, 60 percent up from $5 billion in 2011-2015.


In 2016-2017, the ADB approved $2.5 billion in sovereign and $600 million in non-sovereign assistance.


To support government efforts, the ADB will provide additional resources depending upon need, performance of ongoing projects, and readiness of new projects.


Bangladesh joined the ADB in 1973, and in 1982 became its first member to host a field office.


To date, more than $20 billion in ADB loans, grants, and technical assistance has been approved for Bangladesh.


The approved non-sovereign loans, equity investments, and guarantees have totalled $985.28 million.