DHAKA, Sept 17, 2024 (BSS) - The Asian Development Bank (ADB) has appointed Hoe Yun Jeong as its new Country Director for Bangladesh.

Jeong will lead ADB's operations in Bangladesh and policy dialogue with the interim government, development partners, and other stakeholders.

He will initiate the preparation of ADB's upcoming country partnership strategy (CPS) for Bangladesh, said an ADB press release.

The current CPS will end in 2025. "I look forward to working closely with the interim government and the people of Bangladesh to restore economic and fiscal stability and implement broad-based reforms critical for economic diversification and a sustained growth trajectory, including progress toward the country's long-term development goals," Jeong said.

He said, "Support for inclusive, climate-resilient, and robust development will be pursued in close collaboration with the interim government, development partners, and the people of Bangladesh to promote a more harmonious and sustainable growth process."

Jeong has 25 years of professional experience, including about 15 years in ADB. Prior to joining the bank, he held senior positions in the Republic of Korea's Ministry of Strategy and Finance.

He joined ADB in 2009 as an economist and worked extensively in regional cooperation and operations. In 2018, he moved to ADB's India Resident Mission where he served in senior roles, including as Deputy Country Director.

Jeong was instrumental in enhancing relationships with development partners, facilitating efforts to lower the cost of financing to clients, enhancing knowledge operations, and coordinating ADB's support for India's G20 Presidency.

The new ADB country director is a national of the Republic of Korea. He holds a master's degree in business administration from the University of Washington, United States, and a bachelor's degree in economics from Seoul National University, Republic of Korea.

Bangladesh became a member of ADB in 1973. ADB has committed around $61 billion in loans and grants to the country, including co-financing.

ADB's priority areas for support in Bangladesh include energy, transport, urban infrastructure, water supply and sanitation, education, agriculture and natural resources, and finance.

As of September 2024, ADB's Bangladesh portfolio includes 53 projects worth around $13 billion.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members-49 from the region.