Economy
Bangladesh Secures $490mn from ADB for Rural Connectivity and Urban Development
Asian Development Bank (ADB) Commits $490 Million to Enhance Urban Governance and Rural Roads in Bangladesh
In a significant move aimed at bolstering Bangladesh’s infrastructure and fostering sustainable development, the Asian Development Bank (ADB) has pledged a substantial sum of $490 million in loans. The agreements, inked between Sharifa Khan, Secretary of the Economic Relations Division (ERD), and Edimon Ginting, ADB Country Director for Bangladesh, mark a crucial step towards realizing these developmental aspirations. The accord encompasses two vital projects: a $190 million allocation for the ‘Rural Connectivity Improvement’ initiative and a substantial $300 million for the ‘Urban Governance and Infrastructure Programme’.
Underlining the nation’s focus on rural development, the ‘Rural Connectivity Improvement’ project, now in its second phase with additional financing, is being executed by the proficient Local Government Engineering Department. With a resolute objective, the project aims to revamp rural infrastructure, facilitating access to productive agricultural zones. This endeavor seeks to elevate rural roadways to meet all-weather standards, integrating climate resilience measures, while concurrently enhancing stakeholder capacity through effective training mechanisms.
Shifting gears to urban landscapes, the ‘Urban Governance and Infrastructure Programme’ is set to be implemented by the adept Local Government and Engineering Department. With a slated timeline from July 2023 to June 2028, this venture is geared towards achieving meticulously planned, inclusive, and sustainable urbanization. A cornerstone of this initiative involves the enhancement of city governance, a pivotal step towards uplifting overall infrastructure. This concerted effort not only envisages elevated living standards but also envisions a harmonious synthesis between urban growth and efficient governance.
As Bangladesh marches forward on its journey of progress, these agreements with the Asian Development Bank stand as a testament to the nation’s unwavering commitment to fortifying its rural roots, while also propelling its urban centers toward a future marked by robust infrastructure, judicious governance, and sustainable growth.
Expatriate Bangladeshis sent approximately US$ 2.11 billion in remittances during the first 28 days of September in the fiscal year 2024-25, according to data released by Bangladesh Bank on 29 September.
Of this total, state-owned and specialised banks handled $679.10 million, while private banks received $1.43 billion in remittances.
Chief Adviser to Bangladesh’s interim government, Professor Muhammad Yunus, has vowed to expedite reforms and hold elections swiftly. Yunus, who recently assumed the role after the collapse of Prime Minister Sheikh Hasina’s 15-year administration, expressed his commitment during an interview with Tokyo-based news outlet NHK WORLD in New York on Sunday. He was attending the United Nations General Assembly at the time.
Following mass student-led protests that ended Hasina’s long-standing rule in August, Yunus stepped in as the leader of the caretaker government. Known for founding Grameen Bank, an institution providing microloans to the underprivileged, Yunus, along with the bank, earned the Nobel Peace Prize in 2006 for his efforts in poverty alleviation.
During the interview, Yunus emphasized that the interim government’s primary mission is to implement reforms promptly and ensure elections are held as soon as the groundwork is complete. He underscored the importance of success, stating, “Failure is not something that we can accept.”
Addressing the pivotal role of students in the ousting of the Hasina administration, Yunus acknowledged the sacrifices made by young people, referring to their involvement as part of a “revolution.” He highlighted his intention to engage the younger generation in shaping policy.
Furthermore, Yunus called for continued support from Japan, Bangladesh’s largest donor, during this crucial transition period. He stressed that Japan’s assistance is vital to stabilizing Bangladesh’s economy and fostering a democratic foundation in the nation.
Syeda Rizwana Hasan, the Adviser for Environment, Forests, and Climate Change, announced today that steps will be taken to restrict the use of polythene shopping bags to safeguard future generations.
Starting from October 1, polythene bags will be banned in shopping malls, followed by a ban in kitchen markets from November 1.
“Everyone must take responsibility and stop using polythene voluntarily. Action against polythene producers will begin from November 1,” Rizwana Hasan stated during a seminar.
The Department of Environment (DoE) organized the seminar to raise public awareness about alternatives to banned polythene bags.
Rizwana Hasan highlighted that the restriction on polythene will be executed in phases according to legal provisions, and discussions with shopping centers and store owners are ongoing to ensure a smooth transition.
She also announced plans to make the government secretariat a plastic-free zone by December.
Other speakers at the seminar included Environment Secretary Dr. Farhina Ahmed, DoE Director General Dr. Abdul Hamid, Director Rajinara Begum, President of the Shop Owners Association Muhammad Helal Uddin, and Md. Arifur Rahman Bhuiyan, Assistant Professor of Environmental Science at BUP. They discussed the harmful effects of polythene and the need for alternative products.
Earlier, Rizwana Hasan inaugurated a fair showcasing eco-friendly alternatives to polythene bags and visited 24 stalls. The fair featured products from government and private entrepreneurs, including reusable bags, jute bags, paper bags, and items made from bamboo and cane.
