Staff Correspondent: Under CPS, Bangladesh will become an upper middle income country by 2031 through public and private investment in the next 5 years in the fiscal year 2021-2025. Through CPS, Bangladesh will quickly turn from the Corona crisis to the socio-economic field.

During this time, the Asian Development Bank (ADB) will provide 10 to 12 billion dollars to Bangladesh. At the same time in the last five years, ADB has given 9.6 billion dollars to Bangladesh.

This information was given in a press release sent by ADB on Tuesday (September 21).

Kenichi Yokoyama, ADB's Director General for South Asia, said sustainable growth and appropriate policy measures have helped Bangladesh achieve better development results. However, the country needs diversification in terms of industry and export. Diversification of production and export materials such as agricultural products, information and communication technology, light engineering and pharmaceuticals, competitive growth and entry into new markets have given impetus to Bangladesh's economy. The CPS-Corona will emerge from the crisis, maintain rapid economic growth and create substantial employment.

Increasing the country’s capacity for climate change and other natural disasters in line with the CPS agreement. ADB helps address the effects of climate change directly through integrated management of water, rivers and coastal areas.

In the next five years, ADB will assist Bangladesh in reducing poverty from 20.5 to 15.6 percent and extreme poverty from 10.5 percent to 7.4 percent.

The new ADB strategy will work with the government to assist in the implementation of its Eighth Five-Year Plan. The goal is to create high resource mobilization requirements, diversify production and exports, and create sustainable urbanization.

Sun News / FHP