Photo: Collected-
Metropolis Report-
A $400 million loan from the Asian Development Bank (ADB) has been granted to Bangladesh to advance domestic resource mobilization reforms, increase the effectiveness and productivity of state spending, and assist small enterprises, particularly those run by women, in gaining access to low-cost, creative bank financing.
The Sustainable Economic Recovery Program, which was established in October 2021 to aid with the economic recovery following the Covid-19 pandemic, includes this loan.
It will improve income tax collection, close tax gaps, bolster compliance and enforcement controls, and widen the tax base of the nation.
Additionally, it encourages commercial banks to introduce cutting-edge financing solutions to offer affordable microcredit.
ADB is dedicated to combating extreme poverty and establishing a prosperous, inclusive, resilient, and sustainable Asia and the Pacific.
