Asian Development Bank backs Bangladesh goal of trillion-dollar economy by 2034

Asian Development Bank vice president Yingming Yang said the Manila-based lender is ready to help Bangladesh become an upper-middle-income country and a trillion-dollar economy by 2034.

Yang, who visited Bangladesh from Aug. 9-13, said the country has shown resilience through strong remittances, services activity, and a dynamic private sector. He said the next step is deeper economic transformation driven by investment and reforms.

The bank expects Bangladesh’s gross domestic product to grow 3.7% in fiscal year 2026 and 4.5% in fiscal year 2027 as inflation moderates and investor confidence improves.

Yang said priorities include improving the investment climate, expanding reliable energy, strengthening banking governance, diversifying exports, building workforce skills, and creating more opportunities for women and young people. He also said stronger regional transport, energy, digital connectivity, and customs cooperation could help Bangladesh attract investment and integrate further with South and Southeast Asia.

Size of Bangladesh’s economy is $500 billion.