POST Online Media Lite Edition


ADB provides further $170 million for Bangladesh

Christian Fernsby |
The Asian Development Bank (ADB) has approved a second tranche loan of $170 million to conclude the Third Capital Market Development Program in Bangladesh.

Article continues below

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.”

What to read next

ADB president announces $10 billion funding for Indonesia
ADB offers loan to Bangladesh to support garment industry
ADB offers 100m loan to support China's emission reduction projects