Dhaka, May 3 -- The Asian Development Bank (ADB) has said that old age allowance is not adequately meeting the needs of the poorest of the poor in Bangladesh, and more resource allocation is required.

"We did a survey in Bangladesh quite recently. One key critical issue that Bangladesh has to address is that the old age allowance is not meeting the [needs of] poorest of the poor. The coverage is still below 50 percent," Senior ADB Economist Aiko Kikkawa told UNB while responding to a question during a media briefing on Thursday.

Acknowledging that Bangladesh is in the right direction to address the issue, the author of the report "Aging Well in Asia: Asian Development Policy Report," released on Thursday by the ADB at its 57th annual me...