Asian Development Bank (ADB) will provide 91.764 billion Yen (equivalent to $600 million) to Bangladesh for ‘Strengthening Economic Management and Governance Programme (Subprogram-1)’.

The Bangladesh government and Asian Development Bank (ADB) signed a agreement in this regard on Wednesday, said an Economic Relations Division (ERD) press release.

Md. Shahriar Kader Siddiky, secretary, Economic Relations Division (ERD), Ministry of Finance, and Jiangbo Ning, officer-in-charge, Bangladesh Resident Mission, ADB, on behalf of the respective sides signed the Policy Based Loan agreement.

Strengthening Economic Management and Governance Programme (Subprogram-1) was developed by the Finance Division for necessary reform to strengthen economic management and establish a transparent and accountable regulatory regime for private sector development.

The programme will be implemented by Finance Division and Financial Institutions Division of the Ministry of Finance, Bangladesh Investment Development Authority and Public-Private Partnership Authority of the Chief Adviser`s Office, Bangladesh Competition Commission and Registrar of Joint Stock Companies and Firms of the Ministry of Commerce, Porgramming Division of the Planning Commission, National Board of Revenue and Bangladesh Bank.

According to the loan agreement, the objectives of this programme are --- Fiscal management strengthening, State Owned Enterprise governance and investment climate improvement, and Trade policy and logistics strengthening.

ADB`s total aid to Bangladesh till now is above US$ 32497.47 million (Loan) and US$ 571.2 million (Grant).