ADB keen to help Bangladesh initiate vital structural reforms

The Asian Development Bank (ADB) has expressed willingness to support the Interim Government of Bangladesh to initiate vital structural reforms in the country.

The interest came when a senior ADB delegation, led by its South Asia Director General Takeo Konishi, on Sunday called on Chief Adviser Professor Dr Muhammad Yunus at the State Guest House Jamuna in Dhaka, reports BSS.

During the meeting, the ADB Director General said the ADB has a long history of working in Bangladesh and would be keen to support the Interim Government to initiate vital structural reforms in the country.

Konishi said there was room for policy-based lending to Bangladesh as the Interim Government stepped up efforts to stabilise the economy.

Chief Adviser Prof Yunus said the student-led revolution had given Bangladesh a new opportunity to rebuild the institutions "piece by piece."

"We're in a ground zero situation. Everything needs to be done as quickly as possible," the Chief Adviser told the ADB delegation.

During the meeting, the government's newly launched financial sector reforms, key economic issues such as digitalisation of the tax data, data transparency, energy, private sector, and investment were discussed.

Lutfey Siddiqi, special envoy of the Chief Adviser, observed that dynamics in the foreign exchange market and its interplay with reserves and remittances are already showing signs of improvement.

"There is a noticeable uplift in confidence and credibility on that front," he said.

Lamiya Morshed, senior secretary and the head of SDG affairs; Edimon Ginting, senior adviser of ADB; Hoe Yun Jeong, ADB country director designate; and Jiangbo Ning, deputy country director; were present in the meeting.