ADB will provide a loan of 400 million USD by December: Finance Adviser
The Asian Development Bank (ADB) is expected to provide a loan of 400 million USD by December as part of its budgetary support to the government. Economic and Trade Advisor Salehuddin Ahmed shared this information with journalists today, following a courtesy meeting with an ADB delegation at the Secretariat in Dhaka. In addition, a delegation from the Japan International Cooperation Agency (JICA) also paid a courtesy visit to the advisor today. Later in the afternoon, the Acting High Commissioner of Australia to Bangladesh also met with the Economic Advisor.
Salehuddin Ahmed mentioned that, along with ADB, both JICA and Australia have shown a positive stance regarding financial support. Furthermore, an additional 3 billion USD has been requested from the International Monetary Fund (IMF) on top of the previously agreed 4.7 billion USD.
The Economic Advisor stated, “JICA is a key development partner for us. They are funding many of our significant projects. We have requested that they continue providing support for ongoing infrastructure loans, and they have agreed to do so. They are also offering assistance in disaster management and technical areas.”
When asked if the flow of foreign loans had decreased, the advisor responded that during the 15 years of the Awami League’s tenure, the flow of foreign loans to Bangladesh had been stable. He emphasized that the focus should be on how these loans are utilized, as many questions have been raised about their usage. Salehuddin Ahmed said, “All three entities that visited today are our development partners. We discussed with them and requested that they strengthen their ongoing support.”
He further added, “Australia is also an important development partner for us. Their assistance has a direct impact. Apart from Europe, Canada, and the UK, Australia is a major country. They have shown interest in regional trade. We informed them that Bangladesh’s regional trade is currently limited to a few countries, and their involvement would be beneficial. Australia is interested in investing in the energy and agricultural sectors.”
The Economic Advisor also mentioned, “Our priority is to secure loans at lower interest rates. We aim to extend the loan repayment periods. For instance, Japanese loans come with a 30-year repayment period and a 10-year grace period. We have requested that China also extend their loan repayment period to 30 years.”
