Global crisis 'won't affect ADB aid to Bangladesh'
Friday, 31 October 2008
Asian Development Bank (ADB) country director Paul Heytens Thursday said the global financial crisis would not affect the multilateral development bank's assistance to Bangladesh, reports UNB.
"I don't see any immediate issue coming up right now (to affect ADB's assistance)," he told reporters after a meeting with finance and planning adviser Dr Mirza Azizul Islam at his Finance Ministry office.
He said ADB would continue financing around 50 ongoing projects in Bangladesh worth $3.2 billion to help the country strengthen its capacity of economic growth and create employment opportunities.
Heytens said the total disbursement for Bangladesh from the bank would stand at $600 million in 2008.
He said the finance adviser informed him that he does not see any immediate impact of the recession due to the country's relative strengths in macroeconomic stability and as its financial system is not closely integrated with the global market.
He added that the adviser was optimistic that the country's exports, particularly that of readymade garments, as well as remittances are unlikely to be affected in the short term, but would need to see the developments in the days ahead.
"I don't see any immediate issue coming up right now (to affect ADB's assistance)," he told reporters after a meeting with finance and planning adviser Dr Mirza Azizul Islam at his Finance Ministry office.
He said ADB would continue financing around 50 ongoing projects in Bangladesh worth $3.2 billion to help the country strengthen its capacity of economic growth and create employment opportunities.
Heytens said the total disbursement for Bangladesh from the bank would stand at $600 million in 2008.
He said the finance adviser informed him that he does not see any immediate impact of the recession due to the country's relative strengths in macroeconomic stability and as its financial system is not closely integrated with the global market.
He added that the adviser was optimistic that the country's exports, particularly that of readymade garments, as well as remittances are unlikely to be affected in the short term, but would need to see the developments in the days ahead.