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ADB Concludes 2004 Country Programming Mission for Bangladesh

DHAKA, BANGLADESH (31 March 2003) - The Asian Development Bank (ADB) has successfully concluded its 2004 Country Programming Mission (CPM) with a wrap-up meeting held on Sunday, 28 March 2004 at the Economic Relations Division, chaired by Mirza Tassaduq Hussain Beg, Secretary, Economic Relations Division of the Ministry of Finance. The 2004 CPM was conducted during 25 February to 17 March by ADB's country team for Bangladesh.

To maximize the overall development impact, the CPM concentrated on ADB's assistance to fewer sectors based on the following:

• greater selectivity;
• strong commitments of the Government to reforms;
• result-based programming focusing on improving portfolio management;
• ADB's comparative strength and its long involvement in the sector; and
• complementary with other development partners.

The proposed lending program for Bangladesh during 2004-2006, which the Mission will recommend to the Management of ADB, consists of 17 projects totaling $1,368 million, of which $618 million is expected to be from Asian Development Fund (ADF) and $750 million from the Ordinary Capital Resources (OCR). The annual average lending will be about $456 million. The proposed 2004-2006 TA program includes a total of 28 TA projects for which ADB expects to provide $14.7 million. The program accommodates several thematic priorities, including promotion of the private sector, good governance, gender and development, and regional cooperation. The program will be reflected in the Country Strategy and Program Update (CSPU) for Bangladesh, which will be considered by ADB's Board of Directors in August 2004. Board endorsement is required before the CSPU can become operational.

ADB is dedicated to reducing poverty in the Asia and Pacific region through pro-poor sustainable economic growth, social development, and good governance. Established in 1966, it is owned by 63 members - 45 from the region. In 2003, it approved loans and technical assistance amounting to US$6.1 billion and US$177 million, respectively.