B Mirror Report:  The Asian Development Bank (ADB) will provide Bangladesh with $1.4 billion in financing and assistance for four major development projects focused on economic management, social protection and infrastructure development.

The financing agreement was signed on Sunday between the Economic Relations Division (ERD) under the Ministry of Finance and the ADB at a ceremony held at a hotel in the capital.

Speaking at the event, Finance Minister Amir Khosru Mahmud Chowdhury said the ADB’s timely financial support would help Bangladesh implement its development plans amid global economic challenges triggered by the recent Middle East conflict.

He praised the ADB for its quick response and continued cooperation, saying the support would assist the country in maintaining economic stability and sustaining its development momentum.

Under the agreement, the funds will be used for four projects: the Strengthening Economic Management and Governance Program (Subprogram 2), the Second Strengthening Social Resilience Program (Subprogram 2), the South Asia Subregional Economic Cooperation (SASEC) Dhaka-Sylhet Corridor Road Project, and the Narayanganj Green and Resilient Urban Development Project.

The finance minister also welcomed the ADB president and the visiting high-level delegation. He said a Nationwide Integrated Development Project would be announced during a meeting between the ADB president and the prime minister on May 25.

According to the minister, the long-term initiative is aligned with the government’s development priorities and election commitments and is expected to improve living standards across the country.

He also expressed hope that the partnership between Bangladesh and the ADB would continue to strengthen in support of the country’s sustainable economic and social development.