ADB lauds Bangladesh’s inclusive growth model, promises to help Dhaka’s transition to upper-middle income economy

The Asian Development Bank will support Bangladesh in its endeavour to become an upper middle-income country by 2031. It committed to increasing financial support for key development priorities including areas like climate change adaptation and mitigation. The multilateral agency will help Bangladesh in bringing economic reforms to diversify the economy and mobilise more domestic resources.

ADB President Masatsugu Asakawa who is currently in Dhaka on a five day tour, held a bilateral meeting with Bangladesh Prime Minister Sheikh Hasina. Earlier, a programme celebrating 50-years of partnership between the ADB and Bangladesh was also held in Dhaka.

“I have witnessed the many ways Bangladesh has been transformed through steady and inclusive economic growth with vibrant private sector engagement over the past decade and a half,” said Asakawa.

Hasina called ADB one of Bangladesh’s most trusted development partners as she sought its cooperation in areas like skill development, health, ICT-based entrepreneurship, quality infrastructure besides climate change while helping unleash the potentials of the private sector.

Later this year, as Bangladesh goes to polls, Hasina who has steered the country into an economic success, will face tough competition from her primary opposition party- Bangladesh Nationalist Party.

Hasina has been successful in bringing political stability by choking terror groups. Notwithstanding Hasina’s efforts in eliminating radical elements from the society, threats from non state actors continue to plague.  Recently, Hasina, also inaugurated 50 model mosques across the country and has stressed the need to spread the true knowledge of Islamic values and culture and not get misled in the name of religion.

Also read: Why it is imperative to restore secularism in Bangladesh