ADB Pledges Support for Bangladesh’s Trillion-Dollar Economy Goal

The Asian Development Bank (ADB) has pledged continued support for Bangladesh’s goal of becoming an upper-middle-income country and a trillion-dollar economy by 2034. ADB Vice President for South, Central and West Asia Yingming Yang said the bank would work with Bangladesh to build a productive, investment-led and resilient economy. He made the remarks in an interview with Bangladesh Sangbad Sangstha (BSS) after visiting Bangladesh from August 9 to 13. He said Bangladesh has shown strong economic resilience through expatriate income, steady services and a vibrant private sector. As inflation falls and the macroeconomic situation improves, growth is expected to strengthen. ADB forecasts GDP growth of 3.7 percent in fiscal 2026 and 4.5 percent in fiscal 2027.

He stressed the need for continued reforms, including stronger tax administration, better banking governance, action on non-performing loans and a market-based exchange rate. He said Bangladesh also needs to improve the investment climate, ensure reliable energy, diversify exports, develop skilled workers, expand opportunities for women and young people, and strengthen disaster resilience. Regarding ADB’s new Country Partnership Strategy, he said, “In formulating the new strategy, ADB’s goal is to help Bangladesh move towards a more diversified, competitive, inclusive, and resilient economy. Special emphasis is being given to private sector-led economic diversification and increasing resilience to shocks.”

He also highlighted the Integrated Growth Network Development (IGND) initiative, saying it could reduce transport and logistics costs and expand economic opportunities beyond major cities. The ADB official also pointed to Bangladesh’s strategic location between South and Southeast Asia. Better infrastructure, customs systems, regulations, energy links and digital connectivity could help the country attract investment and join regional value chains. He said ADB’s $20 billion Asia-Pacific Digital Highway initiative could also expand broadband access and digital and AI-related skills in Bangladesh. “Through the coordinated implementation of these initiatives, Bangladesh will be able to build a more connected, competitive and opportunity-rich economy,” he said.