ADB to extend its support in energy, regional connectivity

Says visiting ADB Vice-President Wencai Zhang

Asian Development Bank (ADB) is committed to extend their support for Bangladesh in energy, power sector and regional connectivity to ensure higher growth. 

“We will support in energy, power, human resources, and regional connectivity for the next three years,” said visiting ADB Vice-President Wencai Zhang at a press briefing at ADB Dhaka office yesterday.
Zhang also pledged to continue the bank’s support in rural development, education, agriculture and skill development of employees in private sector.
In replying a question regarding regional connectivity he said that the bank is keen on providing assistance in the sub-regional power grid system under the Bangladesh, Bhutan, India and Nepal (BBIN) inter-regional economic cooperation.
The ADB vice-president said the bank wants to help develop agro-processing industries in Bangladesh, along with the country’s infrastructure for transit-transhipment, aiming to boost regional trade facilities.
Zhang also hoped Bangladesh would be a high middle-income country by 2021 and a developed one by 2041. “So Bangladesh needs higher growth and huge private investment which is engine of economic development.” 
However, in replying a question by The Independent Zhang said they expect proper security for the staffs of the ADB as they are working for the people of the Bangladesh and for their benefit.    
But he did not clear about the impact of terrorist attack at Holy Artisan at Ghulshan in the beginning of this fiscal. Rather he said they would expand their support for Bangladesh in future to achieve the target of Seventh Five Years Plan (SFYP) and Sustainable development goals. “We have prepared the Country Partnership Strategy in line with SFPY of Bangladesh,” he noted.
I have visited in different sites of the ADB funded projects and witnessed a good progress in agriculture and educational projects, he said.
Zhang said the Small Medium Enterprise (SME) sector is doing good and progressing rapidly. He said they have interest to provide support in this sector also even their support for their skill development. 
He said Bangladesh need huge investment in private sector to achieve the inclusive growth with 8 per cent GDP growth. 
But ADB projected 6.9 per cent GDP growth in this fiscal, he said.
He further said they will provide support in Public Private Partnership project for energy efficiency projects in future for more power generation and more efficiency.
He pointed out their support for cross border power transmission project between Bangladesh and India. ADB vice president said both countries can transmit power to each other in future.
We are studying over diversifying the power generation in Bangladesh, and there is need for green energy also, he said adding “Nuclear power is also renewable energy.” 
However Zhang said ADB policy does not support nuclear power plant.  

ADB to extend its support in energy, regional connectivity

Says visiting ADB Vice-President Wencai Zhang

Asian Development Bank (ADB) is committed to extend their support for Bangladesh in energy, power sector and regional connectivity to ensure higher growth. We will support in energy, power, human resources, and regional connectivity for the next three years, said visiting ADB Vice-President Wencai Zhang at a press briefing at ADB Dhaka office yesterday. Zhang also pledged to continue the banks support in rural development, education, agriculture and skill development of employees in private sector. In replying a question regarding regional connectivity he said that the bank is keen on providing assistance in the sub-regional power grid system under the Bangladesh, Bhutan, India and Nepal (BBIN) inter-regional economic cooperation. The ADB vice-president said the bank wants to help develop agro-processing industries in Bangladesh, along with the countrys infrastructure for transit-transhipment, aiming to boost regional trade facilities. Zhang also hoped Bangladesh would be a high middle-income country by 2021 and a developed one by 2041. So Bangladesh needs higher growth and huge private investment which is engine of economic development. However, in replying a question by The Independent Zhang said they expect proper security for the staffs of the ADB as they are working for the people of the Bangladesh and for their benefit. But he did not clear about the impact of terrorist attack at Holy Artisan at Ghulshan in the beginning of this fiscal. Rather he said they would expand their support for Bangladesh in future to achieve the target of Seventh Five Years Plan (SFYP) and Sustainable development goals. We have prepared the Country Partnership Strategy in line with SFPY of Bangladesh, he noted. I have visited in different sites of the ADB funded projects and witnessed a good progress in agriculture and educational projects, he said. Zhang said the Small Medium Enterprise (SME) sector is doing good and progressing rapidly. He said they have interest to provide support in this sector also even their support for their skill development. He said Bangladesh need huge investment in private sector to achieve the inclusive growth with 8 per cent GDP growth. But ADB projected 6.9 per cent GDP growth in this fiscal, he said. He further said they will provide support in Public Private Partnership project for energy efficiency projects in future for more power generation and more efficiency. He pointed out their support for cross border power transmission project between Bangladesh and India. ADB vice president said both countries can transmit power to each other in future. We are studying over diversifying the power generation in Bangladesh, and there is need for green energy also, he said adding Nuclear power is also renewable energy. However Zhang said ADB policy does not support nuclear power plant.