The Asian Development Bank (ADB) has pledged continued support for Bangladesh’s ambition to become a trillion-dollar economy and a high-middle-income country by 2034.

Yingming Yang, ADB Vice President for South, Central and West Asia, said the bank would continue working with Bangladesh to build a productive, investment-driven and resilient economy while creating new opportunities and improving living standards.

In an interview with Bangladesh Sangbad Sangstha (BSS), Yang said supporting Bangladesh’s aspiration to achieve high-middle-income status and a trillion-dollar economy by 2034 was a key objective of the ADB’s partnership with the country.

Yang visited Bangladesh from August 9 to 13 and held meetings with senior government officials on the ADB’s upcoming Country Partnership Strategy (CPS), reform and investment priorities, and the Integrated Growth Network Development (IGND) initiative.

He said Bangladesh had demonstrated significant economic resilience, supported by strong remittance inflows, continued activity in the services sector and a dynamic private sector.

According to ADB projections, Bangladesh’s GDP growth is expected to reach 3.7% in FY2026 and 4.5% in FY2027. Yang said growth could gradually accelerate if macroeconomic stability improves, inflation declines and investor confidence strengthens.

However, he stressed that continued structural reforms would be essential to sustain growth. Strengthening tax administration, improving governance in the banking sector, addressing non-performing loans, restoring financial discipline and moving towards a market-based exchange rate regime are among the positive steps, he said.

Yang identified several areas that could help Bangladesh achieve stronger and more inclusive growth, including improving the investment climate, expanding reliable and affordable energy supplies, strengthening public investment management, diversifying exports, developing skilled workers and creating greater opportunities for women and young people.

He said private-sector development and an investment-friendly market should remain at the centre of the process. Increased private investment in productive sectors, he added, would help create jobs and support sustainable economic growth.

Regarding the ADB’s new Country Partnership Strategy for Bangladesh, Yang said the bank’s priorities are evolving in line with the country’s development aspirations.

The new strategy will focus on helping Bangladesh become a more diversified, competitive, inclusive and resilient economy, with particular emphasis on private-sector-led diversification and strengthening the country’s ability to withstand economic shocks.

Yang also highlighted the ADB’s Integrated Growth Network Development (IGND) initiative, which aims to reduce transport and logistics costs, expand economic opportunities beyond major cities and better connect businesses and workers with larger markets.

He said Bangladesh’s strategic location between large and rapidly growing markets in South and Southeast Asia gives it significant opportunities to expand trade, attract investment and participate in regional value chains.

However, he noted that infrastructure development alone would not be enough to fully capitalise on this advantage. Roads, railways, ports, border infrastructure and energy connectivity need to be supported by efficient customs systems, harmonised standards, predictable regulations and seamless supply chains.

Yang also highlighted regional energy cooperation as an important avenue for strengthening energy security and accelerating the transition towards cleaner energy.

He referred to ADB’s recently launched $20 billion Asia-Pacific Digital Highway initiative, which is aimed at strengthening digital connectivity across the region.