Dhaka: The Asian Development Bank (ADB) will provide US$ 8 billion to Bangladesh in five years to help implement its ongoing 7th 5-year plan (2016-2020).

This was revealed at ADB’s Bangladesh Country Partnership Strategy 2016-2020, launched in Dhaka on Wednesday at an event at National Economic Council (NEC) auditorium.

According to the partnership strategy, the ADB will provide Bangladesh US$ 8 billion for 2016-2020 period, which is much higher than US$ 5 billion ADB lending for 2011-2015 period.

ADB Country Director K Higuchi and Economic Relations Division (ERD) senior secretary Mohammad Mejbahuddin jointly launched the partnership strategy.

The ADB will adopt a broad-based approach to respond flexibility to the needs and demand of the country over the country partnership strategy (CPS) during the period.

It will support easing infrastructure constraints in key sectors, such as energy, transport and urban development.

Besides, the priority investment areas of ADB will be improving human capital (skills), supporting economic corridor development, improving rural livelihood and infrastructure and providing climate and disaster resilient infrastructure and services.