AMN
The Asian Development Bank (ADB) on Thursday approved a USD 250 million policy-based loan to support social protection programmes in Bangladesh.
The loan is designed to protect vulnerable populations against socio economic challenges.
THe ADB Principal Social Sector Specialist for South Asia Hiroko Uchimura-Shiroishi said that this subprogram continues ADB’s support to improve the coverage and efficiency of social protection programs in Bangladesh. It will help build resilience of the disadvantaged, and support an inclusive recovery.
Under the new program, ADB is supporting the government in strengthening reforms to improve social protection coverage and efficiency. The loan will deepen the financial inclusion of disadvantaged people, and strengthen the response to diversified protection needs. The reforms include better protection coverage of disadvantaged women and the urban poor. Greater financial inclusion of the disadvantaged will be broadened by improving the usability of mobile financial services through the quick response (QR) code payment services, particularly in rural areas.
Mobile clinics help boost health provision to the urban poor, including the floating people in urban areas. This subprogram also supports a contributory protection scheme by focusing on an employment injury scheme.
ADB’s active portfolio in the country stands at around USD 11 billion with 50 projects as of April 2022.