BANKING AND ECONOMY
● The Asian Development Bank (ADB) approved a loan package of USD 143 million for Bangladesh to support government efforts on trade.
● The loan was approved with an objective to accelerate growth by improving efficiency, predictability, and security of cross-border trade.
● The financial assistance will help the government’s goal of accelerating economic growth through industrialization and trade.
● The loan package includes USD 90 million to support reforms in economic trade related areas and a USD 53 million component of the loan is earmarked for construction of integrated land customs stations and land ports of National Board of Revenue (NBR).
● The financial assistance will be used to install the facilities and equipment for customs clearance and cargo transshipment operations.
● Asian Development Bank (ADB) was established in 1966
● Headquarters of ADB: Mandaluyong, Philippines.
● President of ABD: Mr. Masatsugu Asakawa.
● Total member: 68 nations.