DHAKA, May 7, 2020 (BSS) – Finance Minister AHM Mustafa Kamal today
thanked the Asian Development Bank (ADB) President Masatsugu Asakawa for
approving $500 million loan to bolster the efforts of Bangladesh to manage
the impact of the novel coronavirus (COVID-19) pandemic on the country’s
economy and public health.
The Finance Minister said the ADB has been providing increased support to
Bangladesh continuously to attain the country’s development milestones.
“We had earlier requested the ADB to provide us with continuous assistance
and support to face this crisis situation. This immediate support was very
much necessary for Bangladesh in this crisis moment while this $500 million
support will play an important role to face the adverse impact of novel
Coronavirus on the country’s economy and society.” Kamal said, according to
an official press release.
Earlier on April 20, the Finance Minister and the ADB President had a
telephone conversation over the latest COVID-19 situation where Kamal sought
greater ADB support to Bangladesh.
Meanwhile, the ADB President said this package will build on ADB’s ongoing
collaboration with Bangladesh on structural reforms by supporting government
efforts to speed up the country’s social and economic recovery.
The assistance is part of ADB’s COVID-19 Active Response and Expenditure
Support (CARES) Program, which is funded through the COVID-19 pandemic
response option (CPRO) under ADB’s Countercyclical Support Facility.
CPRO was established as part of ADB’s $20 billion expanded assistance for
developing member countries’ response to the pandemic, which was announced on
13 April.