ADB provides $50m more to help covid-19 affected microenterprises in Bangladesh
A small business woman making handmade Pappor (deep-fried bread) at Dinajpur Palace. Photo: World Bank
Star Online Report
Star Online Report
The Asian Development Bank (ADB) and Bangladesh government today signed agreements for $50 million in additional loan to help restore the economic activities of microenterprises in Bangladesh, which have been severely affected by the coronavirus pandemic.
The additional loan will scale up the ongoing Microenterprise Development Project (MDP), which ADB approved in 2018 to provide a $50 million credit line to Palli Karma Sahayak Foundation (PKSF), a government development finance and capacity building organization, ADB said in a statement today.
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ADB approves grant to improve Bangladesh’s business competitiveness
UNB
16th December, 2020 01:25:00
The Asian Development Bank (ADB) has approved $0.5 million in grant assistance for supporting knowledge works to promote business competitiveness and intraregional trade of Bangladesh.
The assistance is additional to an earlier grant of $2 million approved in 2018 for creating innovative knowledge solutions on strategic issues for Bangladesh’s economic transformation, according to a press release.
“In addition to export diversification and enhanced domestic resource mobilization, Bangladesh needs to significantly increase foreign direct investment and intraregional trade to further propel the ongoing growth and development,” said Country Director Manmohan Parkash.
ADB approves grant to improve Bangladesh’s business competitiveness, intraregional trade Star Online Report Star Online Report
The Asian Development Bank (ADB) has approved $0.5 million grant assistance for promoting business competitiveness and intraregional trade of Bangladesh.
The assistance is additional to an earlier grant of $2 million, approved in 2018, for creating innovative knowledge solutions on strategic issues for the country s economic transformation. In addition to export diversification and enhanced domestic resource mobilisation, Bangladesh needs to significantly increase foreign investment and intraregional trade to further propel the ongoing growth and development, said ADB Country Director Manmohan Parkash. Bangladesh has immense opportunities to make significant progress in Doing Business indicators since its current ranking is only 168 out of 190 economies…It can gain significantly by modernising its prope