ADB to provide $3 million loan to Bangladesh

The Asian Development Bank will provide $3 million to improve its governance practices in the capital market and insurance sector.

The Asian Development Bank (ADB) has agreed to provide $3 million to Bangladesh on Wednesday to improve its governance practices in the capital market and insurance sector.

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The project will strengthen the governance, regulation and supervision of the capital market and boost the regulators' capacity.

It will also support government-led reforms being pursued in the insurance sector, including a revamp of the insurance legislation and the establishment of a new regulatory authority based on international best practices said a press release from ADB.

ADB, based in Manila, capital of the Philippines, is dedicated to reducing poverty in the Asia-Pacific region through pro-poor sustainable economic growth, social development and good governance.