ADB approves $100m loan to boost Bangladesh's infrastructure development

MANILA: The Asian Development Bank (ADB) on Monday approved a $100 million loan in additional financing to support critical infrastructure development through public-private partnerships in Bangladesh.

The ADB said the country's infrastructure development, primarily driven by the public sector, faces challenges due to limited resources and implementation constraints.

"This project will enable Bangladesh to catalyze private sector financing, reduce pressure on public finance to address infrastructure development deficits, and create more employment," said ADB Country Director for Bangladesh Hoe Yun Jeong.

The loan will enhance the financial and institutional capacity of the Bangladesh Infrastructure Finance Fund Limited to deliver its mandate of fostering an environment that supports sustainable private investments through the mobilization of public-private partnerships, with a strong focus on gender and climate change, the Manila-based bank said.  

By RSS/Xinhua