ADB to give Bangladesh $200 million more aid

The Asian Development Bank will give Bangladesh $200 million in addition to normal assistance as budgetary support to face the fallout of global meltdown, Finance Minister Abul Maal Abdul Muhith said on Sunday. "ADB has pledged to allocate at least $200 million from the fund it created to support the countries to face the challenges of the global financial crisis," he told Reuters.
"This additional resource will be injected for employment generation, expansion of the safety net programme, investment on infrastructure and will also support indigenous industries," said Muhith, who led the Bangladesh delegation at a two-day ADB annual conference on May 4-5 in Bali. Muhith said the ADB initiated a number of measures including the creation of a $3.4 billion fund to face the impacts of recession.