ADB aligns with our own plans

15 September, 2019 12:00 AM printer


Much to the pleasure of the stakeholders concerned with the country’s rapid socio-economic progress, the Asian Development Bank has expressed its readiness to extend financial support to a host of development projects over a period of three years beginning from next year. As part of its Country Operations Business Plan (COBP) for 2020-2022, the ADB will provide Bangladesh with around $5 billion for the projects. It is to be noted that ADB’s Business Plan aligns with the country’s Seventh Five-Year Plan and supports the implementation of sustainable development goal targets. COBP is also aligned with government priorities focussed on infrastructure and human capital, science and technology research, rural and agricultural development, and private sector promotion.

It may be mentioned that the ADB Country Director on Wednesday handed over a copy of the COBP to Prime Minister Sheikh Hasina and informed that projects worth another $4.9 billion is in the pipeline and will be taken up for financing based on the readiness of the projects. The ADB also pledged continued assistance to promote Bangladesh’s inclusive and sustainable growth.

Obviously, ADB’s readiness to support government projects and priorities is recognition to the country’s better performance in the economic front and its enhanced ability to assimilate project aids. The encouraging growth rates over many years at a stretch have heightened the prestige of the country globally.

In addition to a good number of mega projects including the Padma multipurpose bridge, the government has taken up a host of other schemes for the development of the road and railway communication network as well as skill development of the workforce for employment. The successful implementation of these projects will help the country to harvest the benefits of the mega projects and grow at a faster rate.

Bangladesh is marching ahead in determined steps and going on with its own development schemes in an efficient manner. The promised ADB assistance will be of much help for the country to achieve the lofty objectives of faster economic growth and attain higher economic statuses. But every thing depends on our own efforts.