The 59th annual meeting of the Asian Development Bank (ADB) is currently underway in the historic city of Samarkand. Bangladesh’s delegation is being led by Finance Minister Amir Khasru Mahmud Chowdhury. Alongside high-level meetings, he also held bilateral talks on Tuesday with ADB President Masato Kanda.

After the meeting, the finance minister spoke to Bonik Barta at the conference venue in Samarkand’s Congress Center. The conversation covered Bangladesh’s expectations, budget support, technical cooperation, and other key issues. The interview was conducted by Abu Tahar.

At the outset, what were Bangladesh’s expectations from this ADB meeting, particularly regarding budget support and other sectors?

First, ADB congratulated the new government for coming to power with such a strong mandate and earning public trust. Second, and most importantly, the organisation has fully supported the current BNP government’s manifesto, that is, the commitments we have made to the people.

In terms of assistance, ADB has agreed to provide around $1 billion as budget support, which will be received within the current 2025–26 fiscal year. This support may increase in the future if necessary. In addition, there is a commitment of about $1.4 billion in project assistance for this fiscal year, which may also be expanded through further discussions if needed.

Which other sectors has ADB pledged support for?

In terms of support, areas of cooperation include significant collaboration in renewable energy. Discussions were also held on support for digital transformation with ADB. They are likely to work jointly with other countries to assist Bangladesh in this sector, particularly those interested in advancing digital transformation.

Bangladesh has set a target of generating 10,000 megawatts of renewable energy by 2030. Will ADB or other organisations, or countries, support achieving this target?

ADB has shown a strong interest in renewable energy. This was discussed, and they are willing to provide support. Not only ADB, but some countries, such as Germany, have also expressed interest and may become involved in these projects. We expect a large portfolio to develop in this area in the future. As climate issues are increasingly important, Germany’s interest has grown. They are working on climate-friendly projects, including renewable energy. We expect to receive substantial support in this sector.

There were reports of discussions with ADB on capital market reforms. What kind of development does Bangladesh seek in this sector?

We have sought technical assistance from the ADB for the capital market. We will have to determine the type of required support. In this case, technical support is more important than financial assistance. If we can ensure investor protection and support listed companies, the remaining improvements can be achieved through technical assistance.

We have long been discussing deregulation, and a serious move toward deregulation is needed here. As we aim to move from a frontier market to an emerging market, ADB’s support will mainly come in this area. The rest of the work will have to be carried out by our government. Inshallah, we will move forward on this.

Was there any discussion on climate funds?

Yes, climate funds were discussed. It was noted that Bangladesh has not been able to utilise these funds effectively in the past. We have now undertaken several climate-related projects, including the excavation of 20,000 kilometres of canals. These projects will receive their support, as this is also a priority area for them.

Could you elaborate on the North-West Dhaka South-East Integrated Road Network Development Project? It is understood that this was also discussed.

This is an integrated project aimed at connecting growth centres from the northern region of the country to Chattogram. The plan is to implement the project by leveraging the potential of different regions from the north to Chattogram. For example, Bogura has strong potential in light engineering, while other regions have opportunities in agro-based processing industries.

Taking into account the unique strengths of each region, we aim to move forward with this project jointly with ADB. We hope the matter will be finalised during the ADB president’s visit to Dhaka, and we will try to announce at that time.

Discussions are ongoing regarding IMF fund disbursement. What is the progress on this?

Discussions are ongoing. A successful conclusion will require mutual understanding between both sides. As I mentioned earlier, the interests of our country and its people are the most important here. We are an elected government, so we cannot make any decision that goes against the people’s interests. The discussions are progressing with these considerations in mind. Let’s see where it ultimately leads.

The budget is approaching, and this will be your first as a finance minister. What can be expected in this budget?

The biggest challenge for us is preparing the budget within a very short time, roughly two to two-and-a-half months. Of this, about one month was effectively spent in transition. So, preparing a budget in such a limited timeframe is quite difficult. Moreover, the economy we inherited was in a fragile condition. On top of that, there are pressures stemming from the Middle East conflict. In this context, formulating the budget is not an easy task.

However, this year’s budget will include support for every individual and community in the country. In the past, many groups remained outside the scope of the budget, with no dedicated projects for them. This time, we will bring them under inclusion. We have spoken about the “democratisation of the economy”— this is our slogan. To implement this, we must ensure participation from all groups and make sure that the benefits of economic growth reach every household. The budget is being formulated with this objective in mind.

Thank you very much for your valuable time during the middle of the ADB annual meeting.

Thank you to Bonik Barta as well.

[This interview was originally conducted in Bangla and published in both the Print and Online editions of Bonik Barta. It has since been translated for the English edition.]