Bangladesh on Friday signed loan agreements worth $1.3 billion with the Asian Development Bank (ADB) to finance four major development projects focusing on climate resilience, renewable energy, transport infrastructure and reforms in the banking sector, reports UNB.
The agreements were signed between the Economic Relations Division (ERD) and ADB at a ceremony held at ERD in Dhaka.
Shahriar Kader Siddiky, secretary of ERD, and Hoe Yun Jeong, country director of ADB, signed the documents on behalf of the government of Bangladesh and ADB respectively.
"These agreements mark a significant step forward in our efforts to strengthen climate resilience, boost infrastructure, promote clean energy and ensure financial stability," said ERD Secretary Shahriar Kader Siddiky.
"The support from ADB will help us advance inclusive and sustainable development in line with our national priorities," he said.
ADB Country Director Hoe Yun Jeong said the comprehensive support package will contribute significantly to Bangladesh's long-term resilience and inclusive development goals.
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