Asian Development Bank (ADB) Vice President for South, Central and West Asia Yingming Yang has concluded a five-day strategic visit to Bangladesh, during which he held high-level discussions with government policymakers on the preparation of the bank’s next Country Partnership Strategy, major reform initiatives and implementation of the Integrated Growth Network Development (IGND) initiative.
The ADB’s Dhaka office disclosed the information on Thursday.
Highlighting that Bangladesh is currently at a critical juncture in its development journey, Yang said enhancing competitiveness, attracting private investment and strengthening the country’s capacity to withstand global and domestic economic shocks have become urgent priorities.
He said the government-led IGND initiative could pave the way for long-term economic growth by improving regional connectivity and productivity.
Following ADB President Masato Kanda’s visit to Dhaka in May, the government and ADB have jointly developed a framework for providing more than $1 billion in annual financial support under the IGND initiative, according to the ADB.
During his visit, Yang held a meeting with Finance and Planning Minister Amir Khosru Mahmud Chowdhury, where they discussed the formulation of ADB’s next five-year strategy for Bangladesh.
The discussions focused on strengthening the banking sector and capital market, expanding renewable energy and promoting economic diversification through greater private-sector participation.
At a national seminar on the IGND initiative in Chattogram, Yang delivered the keynote presentation and described Chattogram as Bangladesh’s principal maritime and economic gateway.
He said region-based growth could be accelerated through coordinated investments in infrastructure, logistics, energy and urban development.
Yang also held separate meetings with Power, Energy and Mineral Resources Minister Iqbal Hasan Mahmud, Environment, Forest and Climate Change Minister Abdul Awal Mintoo, Bangladesh Bank Governor Md Mostakur Rahman, and the Prime Minister’s Adviser on Economic and Planning Affairs Rashed Al Mahmud Titumir.
The meetings covered a range of issues, including climate-resilient infrastructure, digital transformation and increasing private-sector participation in renewable energy.
As part of his visit, Yang toured the ADB-funded Skills for Industry Competitiveness and Innovation Program in Chattogram. He observed initiatives aimed at providing young people with industry-oriented technical training and creating employment opportunities, and expressed satisfaction with the program’s progress.
During the visit, Yang also exchanged views with development partners, research organizations and private-sector representatives. Their perspectives will be considered in preparing ADB’s next Country Partnership Strategy for Bangladesh.
ADB Bangladesh Country Director Qingshu Zhang accompanied Yang throughout the visit.
