Mahmood seeks ADB’s increased support to address present challenges

Published : 06 May 2024 10:12 PM

Finance Minister Abul Hassan Mahmood Ali has sought the Asian Development Bank's increased support to meet its present challenges catapulted by prolonged conflicts, rising geopolitical tensions and frequent raids of extreme weather events.

 Ali made the call during his deliberations at the business session on the final day of the 57th ADB Annual Meeting 2024 in Georgia yesterday.

The minister highlighted Bangla­desh's attainments and vision towards a high growth trajectory, said a Finance Ministry press release on Monday.On the final day of the 57th Annual Meeting, the Finance Minister delivered country statement in ADB's Business Session along with other governors.

He also spoke at the high-level governors' seminar titled "Towards Climate-friendly Globalization".

Citing that geo-political uncertainties are disproportionately affecting DMCs, Ali also pleaded for additional PBL and concessional support along with investment in projects for meeting the challenges of food security, digital divide, energy security and tax reforms. 

 He expressed his optimism that the ADB Meeting would set the just vision to steer through a troubled world, determine strategies for addressing real challenges, scale up concessional climate finances and harness newer opportunities in digital economic cooperation and regional connectivity.

 While responding at the governors' seminar to the role of regional economies in an age of economic fragmentation and advancement of climate technologies, the finance minister stressed upon building greater cooperation among regional economies for a green transition in the industrial value chain. 

 Accelerating regional connectivity measures could be the key to use the region's green opportunities in scale as well as expanding the benefits of industrial production, he added.

The seminar was attended by a number of other distinguished speakers including Mulyani Indrawati, Governor of Indonesia, ADB and Minister of Finance, Indonesia, Masatsugu Asakawa, President, ADB, Lasha Khutsishvil, Minister of Finance, Georgia and Rose N. Nakanaga, Secretary of Finance and Administration, Federated States of Micronesia.

Zeinab Badawi, International Broadcaster and President of SOAS, London University moderated the session.

The Bangladesh Finance Minister also attended a bilateral meeting with German delegation headed by Niels Annen, Parliamentary State Secretary to the Federal Minister for Economic Cooperation and Development and Governor for Germany in the ADB.  The German Minister expressed interest to join the Bangladesh Climate and Development Platform and widen Bangladesh-German climate partnership.