Bangladesh: Asian Development Bank Member Fact Sheet 2018

Abstract

Bangladesh has more than halved its incidence of poverty over the past 25 years. The country gained lower-middle income status in 2015 and met the criteria to graduate from least developed country status in March 2018. Its economic growth has been robust over the past decade and reached 7.9% in the fiscal year that ended on 30 June 2018—the highest rate of economic expansion in the country’s history (for the second year running). The Asian Development Bank (ADB) has been a development partner of Bangladesh since 1973 and established its first field office in Dhaka in 1982. Since 1973, ADB has committed a total of $22.9 billion for 282 loans, $269.18 million for 429 technical assistance projects, and $931.5 million for 44 grant projects. The country is a major recipient of ADB concessional resources. In 2018, ADB committed its highest level of support to Bangladesh yet, with eight sovereign projects totaling $2.1 billion in loans and grants, $16.5 million in technical assistance, and $1.9 billion mobilized in cofinancing.