The Bangladesh government and the Asian Development Bank (ADB) recently signed agreements for a $143 million policy-based loan to improve the volume, efficiency, predictability and security of cross-border trade in Bangladesh. Bangladesh economic relations division secretary Fatima Yasmin and ADB country director Edimon Ginting virtually signed the agreement.
“Aligning with Bangladesh’s policies and strategies, ADB is helping enhance export diversification and competitiveness for accelerating growth with industrialisation and trade and expanding sub-regional trade and commerce,” said country director Edimon Ginting in an ADB press release.
“ADB assistance will help increase the volume of imported and exported cargoes at the Akhaura, Sonamasjid and Tamabil border crossing points (BCPs) by 50 per cent by 2027, while reducing average customs clearance and cargo transshipment time by 50 per cent,” he added.
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