ADB approves $250m loan for Bangladesh’s economic recovery

The Asian Development Bank (ADB) has approved a $250 million policy-based loan to support Bangladesh's economic recovery following the Covid-19 pandemic.

In a press release, the organization confirmed the matter on Saturday (September 25).

This is the first subprogramme of the programmatic $500 million Sustainable Economic Recovery Programme.

ADB said, the objective of the programme is to facilitate a rapid and sustainable recovery from the Covid-19 pandemic, generate employment, and expand economic activities for micro-entrepreneurs and small businesses.

ADB Principal Financial Management Specialist Srinivasan Janardanam said, "The fiscal space created under the program will allow the government to prioritize expenditures and upscale investment in social and economic infrastructure."