The Asian Development Bank (ADB) has assured the Bangladesh government of providing $1.15 billion in budgetary support for FY2024-25.

The funds include $400 million for addressing the challenges of LDC graduation, $250 million for environmental development, and $500 million for financial sector reforms.

This commitment follows a project review meeting with Bangladesh’s Economic Relations Division (ERD). ADB’s ongoing portfolio in Bangladesh includes 53 projects worth $13 billion, focusing on energy, transport, urban infrastructure, and education.

The ADB emphasized the timely use of funds to avoid reallocation to other sectors.