AfDB $ 250 million loan to support Bangladesh’s social resilience program

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The Asian Development Bank (AfDB) on Friday approved a $ 250 million loan to the government of Bangladesh to help finance reforms aimed at improving the inclusion and responsiveness of the country’s social development and resilience agenda.

The social resilience building program will include institutional and policy reforms to address cross-sectoral social development issues in Bangladesh, the Manila-based lender said in a statement received Friday.

“Strengthening support for social protection is essential to mitigate the effects of the pandemic,” said Hiroko Uchimura-Shiroishi, AfDB Senior Social Sector Specialist for South Asia.

He said: “The AfDB supports the government’s intention to leverage the Covid-19 pandemic as an opportunity to strengthen its social protection programs as a critical means of building the resilience of the poor and supporting an inclusive recovery . “

According to the statement, Bangladesh has made remarkable progress in reducing poverty over the past two decades. The incidence of poverty fell from 48.9% in 2000 to 20.5% in 2019, he added.

–IANS

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(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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