The Asian Development Bank (ADB) has pledged to support Bangladeshi contractors in enhancing their capacity and competitiveness to help them participate more actively in international tenders.  

ADB reaffirmed its commitment to promoting the growth of local industries, the multilateral lender said in a statement today.  

Bangladeshi contractors and consultants have consistently demonstrated success in securing contracts both domestically and internationally, it said.  

As ADB operations are projected to expand in the coming years, opportunities for local firms are expected to grow further, the statement added.  

In its 52-year partnership with Bangladesh, ADB has mobilised more than $62 billion in loans and grants, including co-financing, to improve infrastructure, public services, and social development for the country's people.  

ADB's current sovereign portfolio in Bangladesh comprises 51 projects and programmes worth over $12 billion.  

Hoe Yun Jeong, country director for Bangladesh at ADB, said the bank underscores the need for higher skills and greater efficiency for accelerated project implementation as Bangladesh diversifies its economy, implements reforms to drive economic transformation, and prepares to graduate from least developed country status in 2026.  

He made the comments today at an event organised by ADB in Dhaka to provide information on a wide range of ongoing and upcoming opportunities within ADB-financed projects and ADB private sector operations.  

"We are working with stakeholders to reduce procurement time while ensuring economy, efficiency, fairness, transparency, quality, and value for money," Jeong said.  

"In line with ADB's strategic direction in expanding private sector operations, we are also promoting private sector business opportunities," he added.  

Jesper Pedersen, director for the procurement, portfolio, and financial management department of ADB, said the bank is enhancing its procedures to better meet the growing and evolving needs of developing member countries, with a strong focus on sustainability, transparency, and quality in procurement.  

More than 500 participants, including suppliers, contractors, consultants, government officials, representatives of development partners, and members of the diplomatic community, attended the day-long programme.