Bangladesh: ADB provides $250m to boost social protection in Bangladesh

DHAKA, 15 June 2022, (TON): Bangladesh Government and the Asian Development Bank signed an agreement for a US$250 million policy-based loan to further improve the social protection system in Bangladesh for supporting the vulnerable population against socioeconomic challenges.

A press release said “Fatima Yasmin, Secretary, Economic Relations Division, and Edimon Ginting, Country Director, ADB, virtually signed the agreement on behalf of Bangladesh and ADB, respectively.”

The programme aims to accelerate reforms in increasing the coverage and efficiency of the social protection, improving the financial inclusion of disadvantaged people, and strengthening the response to diversified protection needs.

The loan is the second subprogram of the Strengthening Social Resilience Program (SSRP) approved in 2021, which helped implement institutional and policy reforms that strengthened the inclusiveness and responsiveness of social protection in Bangladesh.

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