FROM PAGE 1

as budget support.

The BNP-led government has been seeking support from global and regional lenders since the conflict began affecting the economy through rising external pressures and uncertainty in global markets. ADB is the first major multilateral lender to respond to the government’s call for economic assistance amid the fallout from the ongoing US-Israel war on Iran.

Speaking at the signing ceremony, Finance Minister Amir Khosru Mahmud Chowdhury said the ADB’s “quick and timely economic response and funding” would play a crucial role in implementing the country’s development plans amid the adverse economic impact of the recent conflict in the Middle East.

He said the ADB’s rapid support was “highly praiseworthy” among multilateral development partners.

“The agreement will ensure financing and support for four major projects aimed at economic management, social protection and infrastructure development,” the minister said.

At the event, the finance minister welcomed visiting ADB President Masato Kanda and a high-level delegation. He said an announcement regarding the Nationwide Integrated Development Project would be made today during the ADB president’s meeting with the prime minister.

According to a finance ministry press release, the long-term project aligns with the government’s election manifesto and development plans and is expected to contribute significantly to improving people’s lives.

Officials at the event expressed hope that the long-standing partnership between Bangladesh and the ADB would play an even stronger role in the country’s sustainable economic and social development in the coming years.