Bangladesh seeks greater support from ADB

Finance Minister AHM Mustafa Kamal has requested the Asian Development Bank (ADB) to provide greater assistance to tackle the economic setback caused by the coronavirus pandemic.

The finance minister made the call during a phone conversation with ADB President Masatsugu Asakawa on Monday.

The minister said the inevitable economic recession in many countries of the world has also become a cause for concern for Bangladesh.

“We do not know how long this crisis will last and how it will affect our economy. Yet we are working to counter the potential economic negative effects” he said.

Kamal said “The negative effects of the ongoing shutdown have begun show in our import and export. The outbreak of the deadly virus has caused migrant workers to idle in most countries”.

“The stagnation has come down to the remittance stream. We must urge the ADB for continued support and assistance in the face of this crisis,” the minister said.

The ADB president said the pandemic is likely to have a major impact on economic, social, and developmental progress in Asia. As a result, poverty in the region may increase further, he said.

He discussed with Mustafa Kamal the ongoing ADB projects and pipeline projects in Bangladesh and requested him to take steps so that they are successfully completed.

/ask/nm