The Asian Development Bank (ADB) has approved a $250-million policy-based loan to support Bangladesh's
economic recovery following the COVID-19 pandemic.
The Board of Directors of the Manila-based lender approved the loan Saturday, the first sub-programme of the programmatic $500 million Sustainable Economic Recovery Program, ADB said.
Now the Economic Relations Division (ERD) of the Ministry of Finance will sign a loan deal with the ADB for confirming its disbursement, officials said on Saturday.
The assistance will help Bangladesh to facilitate a rapid and sustainable recovery from the COVID-19 pandemic, generate employment, and expand economic activities for micro-entrepreneurs and small businesses.
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