||The proposed Program (Sub-program 1) is a policy-based financing to help the government implement reforms
to accelerate economic recovery from the COVID-19 pandemic by enhancing: (i) fiscal space through improved
public financial management (PFM) for revenue and public expenditure, and (ii) enabling environment to foster
the growth of cottage, micro, small and medium-sized enterprises (CMSMEs) and associated employment, in
line with initiatives of country’s Eighth Five Year Plan, 2021–2025. This is to be supported under AIIB’s COVID19 Crisis Recovery Facility (the Facility) and co-financed with the Asian Development Bank (ADB).
Objective To help the Government of Bangladesh implement policy reforms to accelerate economic recovery from the