As per the Asian Development Bank (ADB), the coronavirus pandemic increased Southeast Asia's poorest by 4.7 million in 2021, reversing gains made in combating poverty. The organisation urged governments to increase economic growth to reverse the trend.

Extreme poverty - defined as living on less than $1.90 a day - affected 24.3 million Southeast Asians last year, or 3.7 per cent of the region's 650 million residents, the ADB reported.

Also read |&nbsp;<a href="https://www.wionews.com/world/stealth-omicron-behind-chinas-virus-outbreak-says-expert-462588" hreflang="en">'Stealth Omicron' behind China's virus outbreak, says expert</a>

Prior to the pandemic, there had been a decline in the number of people in extreme poverty in Southeast Asia, with a figure of 14.9 million in 2019, down from 18 million in 2018 and 21.2 million in 2017.

"The pandemic has led to widespread unemployment, worsening inequality, and rising poverty levels, especially among women, younger workers, and the elderly in Southeast Asia," said ADB President Masatsugu Asakawa.

Asakawa emphasized the need to improve health systems, streamline regulations to boost business competitiveness, invest in smart, green infrastructure, and adopt technology to boost growth.

Also read |&nbsp;<a href="https://www.wionews.com/world/china-sees-multiple-covid-19-outbreaks-driven-by-stealth-omicron-should-the-world-be-wary-462208" hreflang="en">China sees multiple COVID-19 outbreaks driven by 'stealth omicron'. Should the world be wary?</a>

There were 9.3 million fewer employed workers in Southeast Asia in 2021 as <a href="https://www.wionews.com/topics/coronavirus">COVID-19</a> curbs reduced economic activity, resulting in millions finding themselves jobless.

Southeast Asia's growth forecast for 2021 was 3.0 per cent.

Watch |&nbsp;China's latest Wuhan virus outbreak: 10 Chinese cities under lockdown

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/chinas-latest-wuhan-virus-outbreak-10-chinese-cities-under-lockdown-462456/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

This year, the region was projected to grow 5.1 per cent. However, if the&nbsp;<a href="https://www.wionews.com/topics/omicron">Omicron </a><a href="https://www.wionews.com/topics/coronavirus">v</a><a href="https://www.wionews.com/topics/omicron">ariant</a> of the virus&nbsp;spreads further and causes supply and demand shocks, that growth outlook could be cut by as much as 0.8 percentage points, the ADB said.

The Russian invasion of Ukraine had not yet been factored into the projection for 2022.

As a result of that conflict, Asia's policymakers have been forced to re-evaluate their assumptions for 2022, with weak growth and surging prices adding to the complexity of their monetary setting plans.

(With inputs from agencies)

As per the Asian Development Bank (ADB), the coronavirus pandemic increased Southeast Asia's poorest by 4.7 million in 2021, reversing gains made in combating poverty.

As per the Asian Development Bank (ADB), the coronavirus pandemic increased Southeast Asia's poorest by 4.7 million in 2021, reversing gains made in combating poverty. The organisation urged governments to increase economic growth to reverse the trend. Extreme poverty - defined as living on less than $1.90 a day - affected 24.3 million Southeast Asians last year, or 3.7 per cent of the region's 650 million residents, the ADB reported. Also read | 'Stealth Omicron' behind China's virus outbreak, says expert Prior to the pandemic, there had been a decline in the number of people in extreme poverty in Southeast Asia, with a figure of 14.9 million in 2019, down from 18 million in 2018 and 21.2 million in 2017. "The pandemic has led to widespread unemployment, worsening inequality, and rising poverty levels, especially among women, younger workers, and the elderly in Southeast Asia," said ADB President Masatsugu Asakawa. Asakawa emphasized the need to improve health systems, streamline regulations to boost business competitiveness, invest in smart, green infrastructure, and adopt technology to boost growth. Also read | China sees multiple COVID-19 outbreaks driven by 'stealth omicron'. Should the world be wary? There were 9.3 million fewer employed workers in Southeast Asia in 2021 as COVID-19 curbs reduced economic activity, resulting in millions finding themselves jobless. Southeast Asia's growth forecast for 2021 was 3.0 per cent. Watch | China's latest Wuhan virus outbreak: 10 Chinese cities under lockdown This year, the region was projected to grow 5.1 per cent. However, if the Omicron variant of the virus spreads further and causes supply and demand shocks, that growth outlook could be cut by as much as 0.8 percentage points, the ADB said. The Russian invasion of Ukraine had not yet been factored into the projection for 2022. As a result of that conflict, Asia's policymakers have been forced to re-evaluate their assumptions for 2022, with weak growth and surging prices adding to the complexity of their monetary setting plans. (With inputs from agencies)

4.7 million Southeast Asians plunge into extreme poverty after the pandemic: Asian Development Bank

The Asian Development Bank (ADB) on Monday released the first batch of data as part of a new regional knowledge platform to guide sustainable transport development in Asia and the Pacific. The Asian Transport Outlook (ATO) will support the planning and delivery of transport sector assistance by ADB as well as transport policy and initiatives by Asian governments in line with Sustainable Development Goals (SDGs), Paris Agreement, and other international agreements.

"This first batch of information reminds us of the challenges faced by economies in Asia and the Pacific in developing the transport sector as they start to look at the period beyond Covid-19," said ADB Vice-President for Knowledge Management and Sustainable Development Bambang Susantono. 
 
"We are now getting data that detail the shortages in transport infrastructure and transport services experienced by ADB members. This will help ADB, its member governments, and other stakeholders to build back the transport sector in Asia and the Pacific in a more sustainable manner in the coming years."

The ATO collects, organizes, and shares data on the transport sector in economies using more than 400 indicators. The first batch of information includes data for 234 indicators on the status of transport infrastructure, transport activity, access and connectivity, road safety, climate change, air pollution and health as well as socio-economic conditions. The ATO will also document the institutional frameworks, policies, and financing of transport in these economies. More batches of data on the transport sector will be released in the coming months.

The ATO is developed on behalf of ADB by the Partnership on Sustainable Low Carbon Transport (SLOCAT), the leading global multi-stakeholder partnership on sustainable, low carbon transport. "The ATO will help ADB and SLOCAT in mobilizing the transport community in support of evidence-based action on transport in Asia," said SLOCAT Secretary-General Maruxa Cardena.

"The coming years will be decisive in determining whether we are meeting the objectives of the SDGs and the Paris Agreement. The manner in which the transport sector in Asia develops is key for both processes and the ATO will tell us whether we are on track." The ATO is a multi-year program with the potential to serve as a primary knowledge base on transport in Asia. To make this a reality, ADB will make ATO data freely available to all and is encouraging transport planners and policymakers to make use of it in their work.

To enhance the success of the ATO, ADB has called on all organizations working on transport in Asia to freely share their data. ADB approves about 40 transport projects per year. Over the last three years, the average combined annual commitments were in excess of five billion dollars.

The Asian Development Bank (ADB) on Monday released the first batch of data as part of a new regional knowledge platform to guide sustainable transport development in Asia and the Pacific.

The Asian Development Bank (ADB) on Monday released the first batch of data as part of a new regional knowledge platform to guide sustainable transport development in Asia and the Pacific. The Asian Transport Outlook (ATO) will support the planning and delivery of transport sector assistance by ADB as well as transport policy and initiatives by Asian governments in line with Sustainable Development Goals (SDGs), Paris Agreement, and other international agreements. "This first batch of information reminds us of the challenges faced by economies in Asia and the Pacific in developing the transport sector as they start to look at the period beyond Covid-19," said ADB Vice-President for Knowledge Management and Sustainable Development Bambang Susantono. "We are now getting data that detail the shortages in transport infrastructure and transport services experienced by ADB members. This will help ADB, its member governments, and other stakeholders to build back the transport sector in Asia and the Pacific in a more sustainable manner in the coming years." The ATO collects, organizes, and shares data on the transport sector in economies using more than 400 indicators. The first batch of information includes data for 234 indicators on the status of transport infrastructure, transport activity, access and connectivity, road safety, climate change, air pollution and health as well as socio-economic conditions. The ATO will also document the institutional frameworks, policies, and financing of transport in these economies. More batches of data on the transport sector will be released in the coming months. The ATO is developed on behalf of ADB by the Partnership on Sustainable Low Carbon Transport (SLOCAT), the leading global multi-stakeholder partnership on sustainable, low carbon transport. "The ATO will help ADB and SLOCAT in mobilizing the transport community in support of evidence-based action on transport in Asia," said SLOCAT Secretary-General Maruxa Cardena. "The coming years will be decisive in determining whether we are meeting the objectives of the SDGs and the Paris Agreement. The manner in which the transport sector in Asia develops is key for both processes and the ATO will tell us whether we are on track." The ATO is a multi-year program with the potential to serve as a primary knowledge base on transport in Asia. To make this a reality, ADB will make ATO data freely available to all and is encouraging transport planners and policymakers to make use of it in their work. To enhance the success of the ATO, ADB has called on all organizations working on transport in Asia to freely share their data. ADB approves about 40 transport projects per year. Over the last three years, the average combined annual commitments were in excess of five billion dollars.

ADB releases data to support more sustainable transport sector in Asia

Nepal may&nbsp;see 28.7 percent contraction in remittance in 2020, highest in the developing Asia&nbsp;amid a COVID-19 pandemic that has devastated economies, according to a report by the Asian Development Bank (ADB).

On the&nbsp;basis of the baseline data of 2018, this translates to an estimated loss of $2.32 billion as&nbsp;Nepali migrant workers sent home $8.29 billion in that year, according to the World Bank data.

Also read:&nbsp;<a href="https://www.wionews.com/south-asia/nepal-kp-oli-prachanda-meeting-postponed-for-a-day-318442" hreflang="en">Nepal: KP Oli-Prachanda meeting postponed for a day</a>

The report, called ‘Covid-19 Impact on International Migration, Remittances, and Recipient Households in Developing Asia’ was released this week stated ''the coronavirus&nbsp;pandemic is expected to hit remittances hard in Asia and the Pacific".

The countries facing "more severe" effects are those where the share of remittances to the gross domestic product and per capita remittances are high, such as Tonga, Samoa and other Pacific nations, it said.&nbsp;Nepal’s share of remittance to the country’s GDP stands at 27 percent.

Also read:&nbsp;<a href="https://www.wionews.com/south-asia/coronavirus-outbreak-should-not-be-used-to-target-government-nepal-pm-oli-318156" hreflang="en">Coronavirus outbreak should not be used to target government: Nepal PM Oli</a>

According to&nbsp;Gunakar Bhatta, spokesperson for Nepal’s central bank, Nepal Rastra Bank&nbsp;“Obviously, the situation is uncertain. The remittance income will not see a contraction by one-fourth as reported.”

The Manila-based lender said&nbsp;“Without continuous remittance flows, remittance-dependent households can fall into poverty or have difficulty meeting basic essential needs, as well as access to education and health services. Loan repayment is another challenge for remittance recipient households''.

"The worst-case scenario assumes that the domestic outbreak control and resumption of economic activities take a year's time," it said. "Uncertainty looms about the timing of full recovery, even as lockdowns are lifted."

Developing Asia, a group of 45 countries in the Asia-Pacific region, is forecast to clock up its weakest growth in nearly six decades this year, the lender said in its Asian Development Outlook report issued in June.

Nepal may see 28.7 percent contraction in remittance in 2020, highest in the developing Asia amid a COVID-19 pandemic that has devastated economies, according to a report by the Asian Development Bank (ADB).

Nepal may see 28.7 percent contraction in remittance in 2020, highest in the developing Asia amid a COVID-19 pandemic that has devastated economies, according to a report by the Asian Development Bank (ADB). On the basis of the baseline data of 2018, this translates to an estimated loss of $2.32 billion as Nepali migrant workers sent home $8.29 billion in that year, according to the World Bank data. Also read: Nepal: KP Oli-Prachanda meeting postponed for a day The report, called ‘Covid-19 Impact on International Migration, Remittances, and Recipient Households in Developing Asia’ was released this week stated ''the coronavirus pandemic is expected to hit remittances hard in Asia and the Pacific". The countries facing "more severe" effects are those where the share of remittances to the gross domestic product and per capita remittances are high, such as Tonga, Samoa and other Pacific nations, it said. Nepal’s share of remittance to the country’s GDP stands at 27 percent. Also read: Coronavirus outbreak should not be used to target government: Nepal PM Oli According to Gunakar Bhatta, spokesperson for Nepal’s central bank, Nepal Rastra Bank “Obviously, the situation is uncertain. The remittance income will not see a contraction by one-fourth as reported.” The Manila-based lender said “Without continuous remittance flows, remittance-dependent households can fall into poverty or have difficulty meeting basic essential needs, as well as access to education and health services. Loan repayment is another challenge for remittance recipient households''. "The worst-case scenario assumes that the domestic outbreak control and resumption of economic activities take a year's time," it said. "Uncertainty looms about the timing of full recovery, even as lockdowns are lifted." Developing Asia, a group of 45 countries in the Asia-Pacific region, is forecast to clock up its weakest growth in nearly six decades this year, the lender said in its Asian Development Outlook report issued in June.

COVID-19: Nepal may see remittance contraction of 28.7% in 2020, says ADB

Under its Asia Pacific Disaster Response Fund (APDRF) the Asian Development Bank (ADB) has approved a $3 million grant to India to&nbsp;support the government’s emergency response to the coronavirus disease (COVID-19) pandemic.

“The new grant complements ADB’s ongoing support to the Government of India in strengthening its COVID-19 response,” said ADB Director for Human and Social Development for South Asia Sungsup Ra. “This support will enhance disease surveillance and help in early detection, contact tracing, and treatment. This will be further supplemented by other public health measures.”

The grant, which is financed by the Government of Japan, will be used to procure thermal scanners and essential commodities to strengthen the Government of India’s COVID-19 response.

Meanwhile, India recorded 48,513 fresh coronavirus infections and 768 deaths linked to the highly contagious illness in the last 24 hours, which takes the country's tally to 15, 31,669 cases, the Union Health Ministry said this morning.&nbsp;

A total of 9, 88,029 patients in the country have recovered so far and 34,193 have died since the beginning of the pandemic, government data shows. Today's spike in cases comes a day after India crossed 15 lakh cases.

Maharashtra, Tamil Nadu, Delhi and Gujarat have reported the highest number of cases. However, infections are rising rapidly in states like Andhra Pradesh, Karnataka and Uttar Pradesh. Only 700 new Covid-19 cases were reported in Mumbai, while Pune recorded a spike of 2,618 cases.

Worldometer has recorded 247,233 new cases worldwide in the past 24 hours.&nbsp;

As many as 16,883,445 people around the world have been diagnosed with Covid-19. While more than 10,445,764 have recovered 662,470 have died so far.

(With inputs from agencies)&nbsp;

Under its Asia Pacific Disaster Response Fund (APDRF) the Asian Development Bank (ADB) has approved a $3 million grant to India to support the government’s emergency response to the coronavirus disease (COVID-19) pandemic.

Under its Asia Pacific Disaster Response Fund (APDRF) the Asian Development Bank (ADB) has approved a $3 million grant to India to support the government’s emergency response to the coronavirus disease (COVID-19) pandemic. “The new grant complements ADB’s ongoing support to the Government of India in strengthening its COVID-19 response,” said ADB Director for Human and Social Development for South Asia Sungsup Ra. “This support will enhance disease surveillance and help in early detection, contact tracing, and treatment. This will be further supplemented by other public health measures.” The grant, which is financed by the Government of Japan, will be used to procure thermal scanners and essential commodities to strengthen the Government of India’s COVID-19 response. Meanwhile, India recorded 48,513 fresh coronavirus infections and 768 deaths linked to the highly contagious illness in the last 24 hours, which takes the country's tally to 15, 31,669 cases, the Union Health Ministry said this morning. A total of 9, 88,029 patients in the country have recovered so far and 34,193 have died since the beginning of the pandemic, government data shows. Today's spike in cases comes a day after India crossed 15 lakh cases. Maharashtra, Tamil Nadu, Delhi and Gujarat have reported the highest number of cases. However, infections are rising rapidly in states like Andhra Pradesh, Karnataka and Uttar Pradesh. Only 700 new Covid-19 cases were reported in Mumbai, while Pune recorded a spike of 2,618 cases. Worldometer has recorded 247,233 new cases worldwide in the past 24 hours. As many as 16,883,445 people around the world have been diagnosed with Covid-19. While more than 10,445,764 have recovered 662,470 have died so far. (With inputs from agencies)

India gets $3 million booster from Asian Development Bank to ramp up combat against deadly coronavirus

The Asian Development Bank (ADB) said on Thursday it will make available 200 million dollars for companies manufacturing and distributing medicines and other items needed to combat the novel coronavirus (COVID-19).

Companies manufacturing and distributing products, including medicines and personal protective equipment, are increasingly strained as production and distribution ramp-up to address COVID-19.

Also read: <a href="https://www.wionews.com/south-asia/coronavirus-may-cause-61-million-loss-to-pakistan-adb-284934">Coronavirus may cause $61 million loss to Pakistan: ADB</a>

The support from ADB, working in partnership with commercial banks, will provide such companies in Asia and the Pacific with additional working capital to meet expansion and other requirements.

"The support will target companies in the supply chain that are critical to fighting the virus," said ADB`s Head of Trade and Supply Chain Finance Steven Beck.

"We are looking to support companies that want to ramp up production and therefore need to engage suppliers," he added.

Also see: <a href="https://www.wionews.com/world/covid-19-likely-to-cost-global-economy-1-trillion-in-2020-285755">COVID-19 likely to cost global economy $1 trillion in 2020</a>

Given that a single pool of supply chain finance is typically used for a subsequent delivery over a period of 120 to 180 days, the 200 million dollar facility could support more than 400 million dollars of financing over the next 12 months.

A total of 50:50 risk sharing from partner commercial banks could boost support under the facility to 800 million dollars over the same period.

The funds will be made available through ADB`s supply chain finance programme and provided to selected companies within weeks.

Also read: <a href="https://www.wionews.com/world/coronavirus-outbreak-could-get-bigger-in-winters-study-285720">Coronavirus outbreak could get bigger in winters: Study</a>

ADB said it is closely monitoring the impact of COVID-19 on trade finance and is in regular contact with client banks to assess whether additional support is required.

ADB's response to COVID-19 to date includes two million dollars announced on February 7 to enhance detection, prevention and response in China and the Greater Mekong Subregion; another two million dollars announced on February 26 to support response in all its developing members; and an 18.6 million dollar private-sector loan signed on February 25 to Wuhan, China-based pharmaceutical distributor Jointown Pharmaceutical Group to support the continued supply of essential medicines and personal protective equipment.

The Asian Development Bank (ADB) said on Thursday it will make available 200 million dollars for companies manufacturing and distributing medicines and other items needed to combat the novel coronavirus (COVID-19).

The Asian Development Bank (ADB) said on Thursday it will make available 200 million dollars for companies manufacturing and distributing medicines and other items needed to combat the novel coronavirus (COVID-19). Companies manufacturing and distributing products, including medicines and personal protective equipment, are increasingly strained as production and distribution ramp-up to address COVID-19. Also read: Coronavirus may cause $61 million loss to Pakistan: ADB The support from ADB, working in partnership with commercial banks, will provide such companies in Asia and the Pacific with additional working capital to meet expansion and other requirements. "The support will target companies in the supply chain that are critical to fighting the virus," said ADB`s Head of Trade and Supply Chain Finance Steven Beck. "We are looking to support companies that want to ramp up production and therefore need to engage suppliers," he added. Also see: COVID-19 likely to cost global economy $1 trillion in 2020 Given that a single pool of supply chain finance is typically used for a subsequent delivery over a period of 120 to 180 days, the 200 million dollar facility could support more than 400 million dollars of financing over the next 12 months. A total of 50:50 risk sharing from partner commercial banks could boost support under the facility to 800 million dollars over the same period. The funds will be made available through ADB`s supply chain finance programme and provided to selected companies within weeks. Also read: Coronavirus outbreak could get bigger in winters: Study ADB said it is closely monitoring the impact of COVID-19 on trade finance and is in regular contact with client banks to assess whether additional support is required. ADB's response to COVID-19 to date includes two million dollars announced on February 7 to enhance detection, prevention and response in China and the Greater Mekong Subregion; another two million dollars announced on February 26 to support response in all its developing members; and an 18.6 million dollar private-sector loan signed on February 25 to Wuhan, China-based pharmaceutical distributor Jointown Pharmaceutical Group to support the continued supply of essential medicines and personal protective equipment.

ADB to provide $200 million to support strained supply chains in fight against COVID-19

The Asian Development Bank (ADB) has approved a $2.7 billion lending programme which will provide $ 2.7 billion in approved financing to <a href="https://www.wionews.com/south-asia/pakistan-prime-minister-imran-khan-discusses-bilateral-issues-with-chinese-president-xi-jinping-254769">Pakistan</a> during the outgoing calendar year. 
 
The ADB announced via a tweet that it "recently approved Country Operations Business Plan (COBP) 2020-2022, it will increase average lending to the country to 2.4 billion dollars a year -&nbsp;showing a whopping increase from the 1.4 billion on average from 2015 to 2018," Dawn said in a news report. 
 
It also stated that ADB will leverage Islamabad's lending through the mobilisation of co-financing and funding from other sources, including regional concessional resources. 
 
"The new COBP will support <a href="https://www.wionews.com/south-asia/pak-opposition-parties-call-cpecas-formation-as-illegal-254704">Pakistan's development goals</a> and complement efforts by other development partners," it added. 
 
Earlier in July, the ADB had announced to extend up to 10 billion dollars indicative lendings to Pakistan for various development projects and programmes during the next five years. 
 
Meanwhile, on Tuesday it was reported that the Pakistan government has accumulated a record level of debt under the first year of Imran Khan's prime ministership. 
 
Islamabad has accumulated a record public debt of PKR 7,509 billion during its first year in power, as per local media reports.

The Asian Development Bank (ADB) has approved a $2.7 billion lending programme which will provide $ 2.7 billion in approved financing to Pakistan during the outgoing calendar year.

The Asian Development Bank (ADB) has approved a $2.7 billion lending programme which will provide $ 2.7 billion in approved financing to Pakistan during the outgoing calendar year. The ADB announced via a tweet that it "recently approved Country Operations Business Plan (COBP) 2020-2022, it will increase average lending to the country to 2.4 billion dollars a year - showing a whopping increase from the 1.4 billion on average from 2015 to 2018," Dawn said in a news report. It also stated that ADB will leverage Islamabad's lending through the mobilisation of co-financing and funding from other sources, including regional concessional resources. "The new COBP will support Pakistan's development goals and complement efforts by other development partners," it added. Earlier in July, the ADB had announced to extend up to 10 billion dollars indicative lendings to Pakistan for various development projects and programmes during the next five years. Meanwhile, on Tuesday it was reported that the Pakistan government has accumulated a record level of debt under the first year of Imran Khan's prime ministership. Islamabad has accumulated a record public debt of PKR 7,509 billion during its first year in power, as per local media reports.

Asian Development Bank approves lending $2.7 billion to Pakistan

The Asian Development Bank (ADB) said it signed agreements on Sunday with the government of Bangladesh for $200 million in loans to improve the rural road network in the country.

Poor infrastructure is often cited as one of the major hindrances to growth in the South Asian country of 165 million people.

“The assistance supports the government’s priority of delivering urban services in rural areas by increasing connectivity, providing greater access to social services and markets, and promoting the agriculture sector, benefiting over 51.5 million people,” said the ADB's Bangladesh country director Manmohan Parkash.

“It will also improve transport efficiency, generate 3.13 million person-days of employment, introduce high-level technology to enhance road master planning, and create road safety awareness among rural population.”

The assistance will support the government’s Rural Connectivity Improvement Project (RCIP) to upgrade about 1,700 km (1,056 miles) of rural roads to all-weather standards in 34 districts located in five divisions.

The project also prioritizes the repair of roads damaged by flash floods in 2017.

Only about 40 per cent of the rural population in Bangladesh has access to all-weather roads, and these roads make up only 28 per cent of the total length of rural roads in the country.

The total cost of the project, which is due for completion in November 2023, is $285.31 million. ADB will provide a concessional loan of $100 million and a regular loan of $100 million and the rest would be provided by the Bangladesh government.

The Asian Development Bank (ADB) said it signed agreements on Sunday with the government of Bangladesh for $200 million in loans to improve the rural road network in the country.

The Asian Development Bank (ADB) said it signed agreements on Sunday with the government of Bangladesh for $200 million in loans to improve the rural road network in the country. Poor infrastructure is often cited as one of the major hindrances to growth in the South Asian country of 165 million people. “The assistance supports the government’s priority of delivering urban services in rural areas by increasing connectivity, providing greater access to social services and markets, and promoting the agriculture sector, benefiting over 51.5 million people,” said the ADB's Bangladesh country director Manmohan Parkash. “It will also improve transport efficiency, generate 3.13 million person-days of employment, introduce high-level technology to enhance road master planning, and create road safety awareness among rural population.” The assistance will support the government’s Rural Connectivity Improvement Project (RCIP) to upgrade about 1,700 km (1,056 miles) of rural roads to all-weather standards in 34 districts located in five divisions. The project also prioritizes the repair of roads damaged by flash floods in 2017. Only about 40 per cent of the rural population in Bangladesh has access to all-weather roads, and these roads make up only 28 per cent of the total length of rural roads in the country. The total cost of the project, which is due for completion in November 2023, is $285.31 million. ADB will provide a concessional loan of $100 million and a regular loan of $100 million and the rest would be provided by the Bangladesh government.

Bangladesh gets $200 million ADB loan for rural road improvements