The Asian Development Bank (ADB) will provide a $600 million loan to Bangladesh to help the country strengthen its economic management and establish a transparent and accountable regulatory environment regime for private sector development.

The Economic Relations Division (ERD) of the Ministry of Finance and ADB signed an agreement in this regard in Dhaka today, a press release said.

Under the loan, the program will be implemented by the Ministry of Finance, Bangladesh Investment Development Authority and Public-Private Partnership Authority, Competition Commission of Bangladesh, Registrar of Companies and joint stock companies, the Planning Commission, the National Board of Revenue and Bangladesh. Bank.

The program will focus on strengthening fiscal management, improving the investment climate and governance of state-owned enterprises, as well as strengthening trade and politics, according to the ERD statement.

Bangladesh has been a member of the ADB since 1973 and the South Asian country has so far received over $32.5 billion in loans from the ADB, including for power, energy, local government , transport, education, agriculture, health, water resources, governance and financial sectors. .