Bangladesh, Bhutan, Nepal—South Asia Subregional Economic Cooperation (SASEC): Trade Facilitation Program
In November 2012, the ADB Board of Directors approved $47.67 million Asian Development Fund equivalent of policy-based loans and grants to Bangladesh ($21 million loan), Bhutan ($8.34 million loan, $3.33 million grant), and Nepal ($15 million grant) to support the $75 million SASEC trade facilitation program to improve cross-border trade operations of South Asia Subregional Economic Cooperation (SASEC) countries. Disbursals were planned in two tranches linked to policy actions; each country’s disbursements were separate and not cross-conditional to the policy actions of other countries. Although India was self-financing its trade facilitation reforms, it remained part of the program implementation through the SASEC Trade Facilitation and Transport Working Group. A program completion report (PCR) was prepared in 2017 and is the subject of this validation. IED overall assessment: Successful.