Dhaka, June 19 (V7N) — The Asian Development Bank (ADB) has approved two significant loans totaling $900 million to support Bangladesh’s banking sector reform and climate change mitigation efforts.

ADB’s Chief Financial Sector Specialist, Sanjeev Kaushik, announced on Thursday that a $500 million loan will be dedicated to reforming the country’s banking sector, aiming to enhance transparency and regulatory capacity. The program includes initiatives to expand affordable financing opportunities for small and medium-sized enterprises (SMEs).

In addition, ADB has sanctioned a $400 million loan to help Bangladesh combat the adverse effects of climate change. The loan will support a range of climate resilience programs, with additional funding expected from the French Development Agency and the Asian Infrastructure Investment Bank (AIIB).

ADB economist Sameer Khatiwada emphasized the importance of coordinated action, stating, “This program will facilitate collaboration among various government agencies.” He further highlighted Bangladesh’s vulnerability, noting that the country is among the most affected globally by climate change.

These loans reflect ADB’s ongoing commitment to supporting Bangladesh’s economic development while addressing critical environmental challenges.

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