The Asian Development Bank (ADB) has approved a $250 million policy-based loan to the government of Bangladesh to help finance reforms aimed at improving the inclusiveness and responsiveness of the country’s social development and resilience programme.
“Enhancing social protection support is critical to cushioning the effects of the pandemic,” said ADB Senior Social Sector Specialist for South Asia Hiroko Uchimura-Shiroishi.
Bangladesh has made remarkable progress in reducing poverty over the past 2 decades.
The poverty incidence declined from 48.9% in 2000 to 20.5% in 2019.
“ADB Also supports the government’s intention to leverage the COVID-19 pandemic as an opportunity to strengthen its social protection programs as an essential means of building the resilience of the poor and supporting an inclusive recovery.”
The program will expand its outreach to vulnerable women by increasing the coverage of both the old age allowance for women over 62 and the allowance for widowed, deserted, and destitute women in 150 sub-district units or upazilas.