ADB provides further $170 million for Bangladesh
Topics: ADB BANGLADESH
ADB approved the program totaling $250 million in November 2015 with a first tranche $80 million loan to support vital capital market reforms accompanied by a technical assistance grant of $700,000, out of which $300,000 was financed by the Government of the Republic of Korea’s e-Asia and Knowledge Partnership Fund, to assist in the implementation of the reform actions.
“ADB’s long-term engagement through its capital market development programs in Bangladesh have transformed the legal, regulatory, and institutional market frameworks in line with the government’s development priority to mobilize long-term financing to productive investments, such as infrastructure, for its sustained economic growth toward middle-income status,” said ADB Financial Sector Specialist Takuya Hoshino.
“Significant progress has been made to further strengthen an enabling environment for sustainable capital market development under ADB’s program.
“The government is encouraged to continue to resolve pending items under its long term capital market development master plan.” ■