ADB Adjusts Bangladesh’s Financing Plan to Support Recovery

The Asian Development Bank (ADB) has restructured its financing plan for Bangladesh to help the country recover from the COVID-19 pandemic. The Country Operations Business Plan (COBP) for 2021 to 2023, which was published in August, includes USD 5.28 billion in loans. A major part of the funds (USD 2.39 billion) will be disbursed in 2021, including USD 500 million to mitigate the economic and social impacts of the pandemic. According to this news article by The Daily Star, one priority in 2020 is Bangladesh’s Flood and Riverbank Erosion Risk Management Investment Programme.

The three-year COBP includes funding for a wide range of projects, such as those related to rural development, energy, transport, water supply, and urban infrastructure. USD 650 million is allocated to agriculture, natural resources, and rural development, while USD 750 million is targeted for projects in the energy sector, with a focus on renewable energy, rural electrification, and energy efficiency. The plan also includes USD 768 million for the water and urban infrastructure sector to increase investments in climate-resilient, green, and livable towns.