Getting back on our feet

In the time of the pandemic, the private sector has been severely impacted, with financial support being critical during this period. To that end, it is good to see that the Asian Development Bank (ADB) has continued its support of Bangladesh’s private sector by expanding its Trade Finance Program (TFP). 

Through this expansion -- which saw its financing limit raised to $755 million from $518 million at the end of last year -- businesses should get a much-needed boost, along with helping with the overall increase in export and import, job creation, and assist in the overall growth and development of the private sector. 

With lockdown restrictions having been eased, and businesses slowly but surely becoming more operational again, it is now integral for them to have the right support behind them so that they can transition back to efficiently and effectively resuming operations. 

With that said, while this assistance from ADB comes at a time of great need as the entire economy navigates through this pandemic, it is equally important for the businesses themselves to proceed with caution. 

Our financial sector is already under tremendous stress in the ongoing pandemic, and everybody should be working and cooperating to ensure that this stress is kept to a minimum. 

Currently, operating with the threat of the coronavirus is our new normal, we can only hope to come out of this pandemic ready to rebuild. In the meantime, all sections of the economy must do their best to keep moving forward, so that once the pandemic does pass us, we are ready to resume our upward trajectory as a nation.