Sohel Parvez

The Manila-based lender downgrades growth projection for Asia and Pacific, including South Asia

"And meanwhile, really think about opportunities to upgrade,” Park said

The Asian Development Bank (ADB) expects that there will be a “significant growth in demand” from the private sector for its investment services in Bangladesh, a senior official said.

Bangladesh earlier sought $1 billion from the Manila-based lender to shield its economy from global shocks triggered by the US-Israel war on Iran

The 59th annual meeting of the Board of Governors of the Asian Development Bank (ADB) opened yesterday, with its President Masato Kanda urging countries in Asia and the Pacific to “act together to develop together” through stronger cross-border connections to secure the next generation’s future.

Finance minister makes the plea at ADB annual meeting

Finance minister made the call at a session of the 59th annual meeting of ADB

Last year, the ADB provided $29.3 billion in financial support to the region while implementing reforms to deliver assistance more quickly and at scale

Economies with low diversification will face challenges in coming out of the middle-income trap, said the head of the Asian Development Bank Institute (ADBI) yesterday.

Bangladesh is expected to play an important role in linking South Asia and Southeast Asia, particularly in power grids

From early pilot schemes in Feni and Kutubdia to Sirajganj initiatives, Bangladesh’s wind power is maturing

The United States has become Bangladesh’s top soybean supplier, as private importers increased purchases under a reciprocal trade deal and US prices eased earlier in the year when Chinese demand briefly slowed.

When the United States and Israel launched attacks on Iran on February 28, the first signs of trouble in Bangladesh were felt at airports. Flights to several Middle Eastern destinations were suspended, leaving migrant workers stranded and creating chaos at Dhaka airport.

In a bid to secure supply, the government has confirmed the purchase of seven LNG cargoes from the spot market since the beginning of the US-Israel war on Iran

Credit growth to the private sector has been staying around 6 percent as businesses continue to be shy about taking on fresh projects amid economic uncertainty.

In January, banks’ credit to the private sector grew by 6.03 percent, the lowest in at least five years

bKash alone handled Tk 20,000 crore in remittances last year. While the growth was substantial, the amount of remittance sent using MFS was only 5 percent of the total.

Bangladesh’s private investment fell for the third consecutive year, reaching 22.03 percent of Gross Domestic Product (GDP) in the fiscal year 2024-25, the lowest level in 11 years, amid a weak investment climate and macroeconomic stress.

TakaPay card, the first-ever national debit card, has failed to secure a significant foothold in the two years since its launch by the central bank, aimed at reducing dependency on global payment networks such as Visa and Mastercard.

Bangladesh has met the criteria to graduate from Least Developed Country (LDC) status, but serious gaps in trade readiness, macroeconomic stability and institutional strength could threaten a smooth transition in November 2026, according to a new independent assessment commissioned by the United Nations (UN).