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ADB to invest $1bn every year

  • Published at 09:05 pm June 2nd, 2014

Asian Development Bank (ADB) has promised to invest at least $1bn in Bangladesh every year mainly for infrastructure development, Planning Minister AHM Mustafa Kamal said in Dhaka yesterday. 

“This year ADB will invest $642m and this figure might increase to $1bn,” he said, after a meeting with ADB’s new country director for Bangladesh Kazuhiko Higuchi.

Higuchi said Bangladesh is close to become a middle-income country, as it has success story in many areas, including export-import business, removing gender disparity, human resource development and social development.

“Foreign investors have been showing keen interest to invest in Bangladesh,” he said.      

ADB has so far invested in 58 projects worth $15.8bn in Bangladesh in the field of flood management, power generation, improving rail line connectivity, improving irrigation system, risk management and human resource development, according to the ADB’s new country director.

“Investment will increase in Bangladesh from next year as ADB always wants to remain as a development partner of the country,” he added.