The Asian Development Bank (ADB) is extending a financial assistance package of over 150 million U.S. dollars that will better equip the Bangladesh government in its fight against corruption.
The assistance will also enable the government to establish a system of good governance that will pave the way for more rapid and inclusive economic growth, private news agency UNB reported Tuesday.
ADB is providing a 150 million U.S. dollars loan to be disbursed in three tranches over a period of four years for the good governance program of Bangladesh.
A release from Manila Tuesday said ADB is also extending a 1.5 million U.S. dollars grant for a technical assistance program that will enhance the capability of concerned agencies in implementing policy reforms and effectively manage the good governance program.
Denmark's Human Rights and Good Governance Program is providing a 1 million U.S. dollars grant, while the Bangladesh government is extending 500,000 to complete the financing for the technical assistance.
"Corruption is a telling indicator of poor governance in developing countries, and this has been in evidence in Bangladesh as well over the years," Gambhir Bhatta, senior governance specialist of ADB's South Asia Department was quoted as saying.
Surveys conducted by organizations inside and outside the country have highlighted this problem, including that corruption adversely impacts not only the economy at the macro level but also individuals and households at the micro level, particularly those in the low-income brackets.
Source:Xinhua
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