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ADB Approves $600 Million Loan to Bangladesh for Economic Reforms

The Asian Development Bank (ADB) has approved a $600 million policy-based loan (PBL) to Bangladesh to implement structural reforms aimed at improving economic management and governance. This package will focus on increasing domestic resource mobilization, enhancing the efficiency of public investments, promoting private sector development, and fostering transparency and accountability. “ADB’s PBL promptly responds to Bangladesh’s immediate development financing needs following the political transition. The reforms target improvements in economic management and governance as well as economic diversification and competitiveness,” said ADB Regional Lead Economist Aminur Rahman. With one of the world’s lowest tax-to-GDP ratios at 7.4%, Bangladesh faces significant revenue mobilization challenges. This program seeks to address them through key policy actions such as digitalization, rationalization of tax incentives, and measures to enhance taxpayer morale. The loan will also prioritize public investment efficiency through increased digitalization and promote private sector growth by streamlining regulations and creating a level playing field. The initiative includes over 130 online integrated services to simplify business operations and enhance foreign direct investment processes. Reforming state-owned enterprises and advancing governance performance monitoring are central to the program. Additionally, it emphasizes “whole of government” logistics reforms to reduce trade costs and encourage export diversification, critical for sustainable economic growth. ADB’s efforts align with its broader mission of fostering a prosperous, inclusive, resilient, and sustainable Asia and the Pacific. Established in 1966, ADB is owned by 69 members, 49 of which are from the region, and remains committed to eradicating extreme poverty across Asia. This financial support underscores ADB’s collaboration with the International Monetary Fund, World Bank, and other development partners to drive economic transformation in Bangladesh. Source: ADB Org. Photo Credit: ADB Org.

ADB Approves $170 Million Loan to Strengthen Health Sector in India

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The Asian Development Bank (ADB) has approved a $170 million policy-based loan to enhance India’s readiness and capability in the health sector to address future pandemics. This funding, under the Strengthened and Measurable Actions for Resilient and Transformative Health Systems (Subprogramme 1), will support the implementation of the government’s National Health Policy 2017. The policy aims to ensure universal access to high-quality healthcare services across the country. Sonalini Khetrapal, a senior health specialist at ADB, stated, “The Covid-19 pandemic has taught us valuable lessons and the adoption of several innovative practices that would significantly strengthen pandemic preparedness and response capacities if consolidated, sustained, and institutionalised. ADB has been working with the Government of India to strengthen its health system and adopt transformative solutions.” This loan will address deficiencies in governance, legislation, and institutional structures, advancing India’s objective of achieving universal access to quality and affordable healthcare services, Khetrapal added. Work Towards Disease Surveillance Systems The programme aims to enhance disease surveillance systems to promptly address public health threats. It will establish laboratory networks for monitoring infectious diseases across states, union territories, and metropolitan areas. Additionally, it will assist in developing reliable data systems to oversee and align national health initiatives targeting disadvantaged populations such as the poor and women. “The programme will improve the governance and coordination of India’s One Health approach, its multisector response to emerging infectious diseases,” the press release stated. Efforts to Implement Policy Reforms ADB will assist in implementing policy reforms aimed at ensuring sufficient and skilled healthcare professionals. This effort includes legislation to oversee and uphold educational standards, service quality, and professional ethics among nurses, midwives, allied healthcare workers, and doctors. “The programme will help public health and health management teams deployed in some states to support public health functions and improve service delivery,” the release said. The programme aims to oversee integrated public health laboratories in five states and district critical care hospital units to enhance services for infectious diseases and critical illnesses. It will aid the intersectoral governing body and multisector task force in establishing environmentally sustainable and climate-resilient healthcare facilities. Furthermore, it will promote innovative approaches to service delivery.