Bangladesh: Sustainable Economic Recovery Program (Subprogram 1)

Sovereign Project | 54307-001

The proposed Sustainable Economic Recovery Program is a policy-based loan (PBL) to help the Government of Bangladesh implement urgent reforms for rapid economic recovery from the coronavirus disease (COVID-19) pandemic by creating: (i) fiscal space to support critical public expenditure, and (ii) a favorable environment to foster the growth of cottage, micro, small and medium-sized enterprises (CMSMEs), and thereby generate employment, one of the core agendas of the Eighth Five Year Plan, 2021 2025. The program supports Asian Development Bank (ADB) Strategy 2030 operational priority 1, addressing remaining poverty and reducing inequalities; operational priority 2, accelerating progress in gender equality; and operational priority 6, strengthening governance and institutional capacity. A programmatic approach will finance two subprograms for $250 million each to be implemented during 2021 2023, enabling some flexibility in aligning policy actions with the changing macroeconomic situation.

Project Details

  • Project Officer
    Janardanam, Srinivasan
    South Asia Department
    Request for information
  • Country
    Bangladesh
  • Sector
    • Public sector management
Project Name Sustainable Economic Recovery Program (Subprogram 1)
Project Number 54307-001
Country Bangladesh
Project Status Active
Project Type / Modality of Assistance Loan
Technical Assistance
Source of Funding / Amount
Loan 4115-BAN: Sustainable Economic Recovery Program (Subprogram 1)
Ordinary capital resources US$ 250.00 million
Loan: Sustainable Economic Recovery Program (Subprogram 1)
Asian Infrastructure Investment Bank US$ 250.00 million
OPEC Fund for International Development US$ 75.00 million
Export-Import Bank of Korea US$ 100.00 million
TA 6774-BAN: Sustainable Economic Recovery Program (Subprogram 1)
Technical Assistance Special Fund US$ 500,000.00
Strategic Agendas Inclusive economic growth
Drivers of Change Gender Equity and Mainstreaming
Governance and capacity development
Partnerships
Sector / Subsector

Public sector management / Public expenditure and fiscal management

Gender Equity and Mainstreaming Effective gender mainstreaming
Description The proposed Sustainable Economic Recovery Program is a policy-based loan (PBL) to help the Government of Bangladesh implement urgent reforms for rapid economic recovery from the coronavirus disease (COVID-19) pandemic by creating: (i) fiscal space to support critical public expenditure, and (ii) a favorable environment to foster the growth of cottage, micro, small and medium-sized enterprises (CMSMEs), and thereby generate employment, one of the core agendas of the Eighth Five Year Plan, 2021 2025. The program supports Asian Development Bank (ADB) Strategy 2030 operational priority 1, addressing remaining poverty and reducing inequalities; operational priority 2, accelerating progress in gender equality; and operational priority 6, strengthening governance and institutional capacity. A programmatic approach will finance two subprograms for $250 million each to be implemented during 2021 2023, enabling some flexibility in aligning policy actions with the changing macroeconomic situation.
Project Rationale and Linkage to Country/Regional Strategy Due to the economic, social and fiscal impact of the pandemic, the PBL aims to strengthen public financial management systems and reform and support CMSME recovery and growth.
Impact
Project Outcome
Description of Outcome
Progress Toward Outcome
Implementation Progress
Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location Nation-wide
Safeguard Categories
Environment C
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation
Business Opportunities
Consulting Services About 30 person-months of staff and 5 person-months of staff consultant resources are required. The proposed transaction TA will provide consultant resources to support government's efforts to implement second subprogram policy actions.
Procurement na
Responsible ADB Officer Janardanam, Srinivasan
Responsible ADB Department South Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, SARD
Executing Agencies
Finance Division, MOF (EA)
Mr.Molla Mansur Ahmed
[email protected]
Bangladesh Secretariat, Dhaka-1000
Bangladesh
Timetable
Concept Clearance 21 Apr 2021
Fact Finding 15 Jun 2021 to 15 Jul 2021
MRM 11 Aug 2021
Approval 24 Sep 2021
Last Review Mission -
Last PDS Update 24 Sep 2021

Loan 4115-BAN

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
24 Sep 2021 04 Oct 2021 18 Oct 2021 31 Dec 2021 - -
Financing Plan Loan Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 675.00 Cumulative Contract Awards
ADB 250.00 18 Nov 2021 0.00 0.00 0%
Counterpart 0.00 Cumulative Disbursements
Cofinancing 425.00 18 Nov 2021 250.00 0.00 100%

TA 6774-BAN

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
24 Sep 2021 - - 30 Jun 2024 - -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
500,000.00 0.00 0.00 0.00 0.00 0.00 500,000.00 18 Nov 2021 0.00

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Evaluation Documents See also: Independent Evaluation

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Tenders

No tenders for this project were found.


Contracts Awarded

No contracts awarded for this project were found


Procurement Plan

None currently available.