The Asian Development Bank (ADB) has approved a substantial loan of $100 million to enhance infrastructure development in Bangladesh through public-private partnerships (PPP). This additional financing is expected to significantly improve the country’s critical infrastructure.
Hoe Yun Jeong, the Country Director for Bangladesh at ADB, emphasized the project’s ability to attract private sector investments while alleviating pressure on public finances. “This initiative is set to create additional employment opportunities and enhance the essential infrastructure for vital industries,” Jeong remarked.
The funding will bolster the financial and institutional capabilities of the Bangladesh Infrastructure Finance Fund Limited (BIFFL), fostering a conducive environment for sustainable private investments, particularly in the textile manufacturing sector. By attracting private capital, the project aims to tackle longstanding infrastructure challenges faced by the Ready-Made Garment (RMG) industry, which is dependent on effective transportation, energy resources, and logistics.
This ADB loan is designed to address financing gaps, enabling long-term investments that will benefit infrastructure initiatives and improve the overall business climate across various sectors. Furthermore, the project will prioritize gender considerations and promote social inclusion, aligning with ADB’s commitment to sustainable development. BIFFL plans to implement gender screening for sub-projects and create comprehensive strategies to ensure gender equality in the workforce.
The Asian Development Bank (ADB) is dedicated to fostering a prosperous, inclusive, resilient, and sustainable region in Asia and the Pacific, with a focus on eradicating extreme poverty. Established in 1966, the bank is made up of 69 member nations, including 49 from the Asia-Pacific region. Its mission is to back transformative initiatives that promote economic development across various sectors.
