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ADB to put up half of $340m PDF Print E-mail
Wednesday, 16 July 2008

Food Aid by donors

Staff Correspondent

The Asian Development Bank will put up half of the total $340 million in food assistance pledged by the donor community for the current fiscal year, said outgoing ADB resident representative Hua Du on Monday

"The World Bank, ADB and other donors will provide Bangladesh with food security assistance worth 340 million dollars, of which the ADB slice alone will amount to 170 million," she told reporters outside the finance ministry ahead of her departure from Dhaka following a six-year stint.
 
Hua Du, who is scheduled to leave Monday night for Manila to take up her new post at ADB headquarters, met with finance and planning adviser Mirza Azizul Islam in the morning to take official leave.
 
The bank's assistance will help fund the current budget's social security net expansion programme, the outgoing country rep said.
 
A joint observation team comprising WB, ADB and other donors first determined the quantity of food grains Bangladesh would need to tide over any food shortfall and a proposal to give $170m in assistance was forwarded to ADB headquarters for approval, said Hua Du.
 
Adding that the proposal will be presented before the bank's board sometime in July, she said that Bangladesh should receive the amount within a couple of months.
 
ADB is assisting the Bangladesh government to meet its enhanced social security expenses this year, which has been raised from last year's allocation of Tk 69 crore to Tk 130 crore in the current budget, said the outgoing resident representative.
 
Outside social security enhancement efforts, ADB's assistance to Bangladesh in the energy and infrastructure development sectors will continue, she assured.

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