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Bangladesh: Deal signed for $143m ADB loan to improve trade facilitation in Bangladesh

DHAKA, 17 June 2022, (TON): The Asian Development Bank and the government signed agreements for a $143 million policy-based loan to improve the volume, efficiency, predictability and security of cross-border trade in Bangladesh.

An ADB 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.”

Country Director Edimon Ginting said "aligning with Bangladesh's policies and strategies, ADB is helping enhance export diversification and competitiveness for accelerating growth with industrialization and trade and expanding sub regional trade and commerce.”

He added "ADB assistance will help increase the volume of imported and exported cargoes at the Akhaura, Sonamasjid and Tamabil border crossing points (BCP) by 50% by 2027, while reducing average customs clearance and cargo transshipment time by 50.”

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