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Bangladesh never fails to pay debts: Finance Minister

Published : Tuesday, 27 September, 2022 at 7:28 PM  Count : 477

Bangladesh never fails to pay debts: Finance Minister

Bangladesh never fails to pay debts: Finance Minister

Bangladesh has one of the lowest debts to GDP ratios in the world, according to Finance Minister AHM Mustafa Kamal, reports UNB.

He said Bangladesh has never failed to pay domestic and foreign debts in the last 51 years.

Kamal said this at the annual meeting at the Asian Development Bank (ADB) headquarters in Manila on Tuesday, said a press release of the finance ministry.

The finance ministers also attend a bilateral meeting with the president of ADB Masatsugu Asakawa.

The finance minister said that currently, the cumulative financing of ADB in Bangladesh stands at $27.6 billion. Out of this total the outstanding loan is $11.69 billion.

Kamal thanked ADB for assistance to developing member countries, including Bangladesh to recover from economic and health crises in Asia and the Pacific region by providing quick support for the Covid-19 vaccines.

It is very important that the Bangladesh-ADB Country Partnership Strategy (2021-2025) is aligned with Bangladesh's national development goals, he said.

The finance minister expected $12-15 billion in loan support from ADB over the next five years, which is crucial for Bangladesh’s achieving development milestones.


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