ADB US $50 Million Loan for Bangladesh Infra Projects

The Asian Development Bank (ADB) and government of Bangladesh signed a 50 million dollar loan agreement on Thursday to promote, fund and implement public-private partnership (PPP) infrastructure projects in the country. The project will help Bangladesh to mobilise private investment, develop infrastructure projects and create jobs which will help accelerate the economic recovery process in the aftermath of the Corona pandemic. The Country Director of ADB Manmohan Parakash said that the project will generate 3000 jobs in PPP projects supported by the Bangladesh Infrastructure Finance Fund Limited (BIFFL) by 2024. Further, the project will help the roll out of the government’s PPP strategy, said Manmohan Parkash. ADB has also assisted the government to develop the PPP Act, set up the PPP office, and an institutional framework for PPPs in addition to supporting priority sectors of Bangladesh as a transaction advisor.