The Asian Development Bank (ADB) has extended its support to speed up the inflow of remittance from Bangladeshi people living abroad.

The project named ‘Institutional Support for Migrant Workers Remittance’ will facilitate expatriate Bangladeshis and their family members at home get the most benefit of the remittance, an official at the Expatriate Welfare and Overseas Employment Ministry said.

It said Bangladesh Bank (BB) will implement a component of the US$ 2 million project to assist banks and financial institutions establish a convenient network for quick disbursement of remittance.

The BB’s component will cost US$ 1.2 million when the rest US$ 0.80 will be spent by the respective ministry for motivation and awareness building programme for potential migrant and remittance earners, the official said.

“The project will help increase remittance inflow”, Secretary of Ex-patriate Welfare and Overseas Employment Ministry Dr Zafar Ahmed Khan told BSS yesterday.

Senior Assistant Chief of Expatriate Welfare and Overseas Employment Ministry Abdul Matin said the ADB approved a grant for the project in January this year and indicated last week that it would disburse the fund soon.

Source: The Daily Sun/ Bangladesh/ 1st  Dec 2011