$30m ADB loan for transport connectivity projects

The government has inked a technical assistance loan agreement for US$30 million from ADB for the development of high demand domestic transport corridors having regional connectivity importance to accelerate growth and stimulate economic activity across South Asia and beyond, reports BSS.
Senior Secretary of Economic Relations Divi-sion (ERD) Mohammad Mejbahuddin and Kazuhiko Higuchi, country director, Bangladesh Resident Mission of ADB, signed the agreement on behalf of their respective sides at ERD at Sher-e-Bangla Nagar here.
The financing is additional to an Asian Development Bank (ADB) technical assistance loan of $23 million for the "Subregional Transport Project Preparatory Facility", which was approved in 2010.
"The assistance will help make domestic transport projects with high impact on regional trade ready for investment," said Kazuhiko Higuchi.
"This will also support the government in achieving high project readiness for faster project implementation through preparation of detailed design, addressing climate resilience, and procurement and safeguard matters," he said.
The technical assistance loan under the "Additional Financing for Subregional Transport Project Preparatory Facility" will support feasibility studies and detailed design of transport projects, including four-laning of 600 km road corridors, and dual gauge conversion of Dhaka-Chittagong-Cox's Bazar Railway corridor.
The Roads and Highways Department and Bangladesh Railway will be the executing agencies for the project, which is due for completion in 2021.

$30m ADB loan for transport connectivity projects

The government has inked a technical assistance loan agreement for US$30 million from ADB for the development of high demand domestic transport corridors having regional connectivity importance to accelerate growth and stimulate economic activity across South Asia and beyond, reports BSS. Senior Secretary of Economic Relations Divi-sion (ERD) Mohammad Mejbahuddin and Kazuhiko Higuchi, country director, Bangladesh Resident Mission of ADB, signed the agreement on behalf of their respective sides at ERD at Sher-e-Bangla Nagar here. The financing is additional to an Asian Development Bank (ADB) technical assistance loan of $23 million for the Subregional Transport Project Preparatory Facility, which was approved in 2010. The assistance will help make domestic transport projects with high impact on regional trade ready for investment, said Kazuhiko Higuchi. This will also support the government in achieving high project readiness for faster project implementation through preparation of detailed design, addressing climate resilience, and procurement and safeguard matters, he said. The technical assistance loan under the Additional Financing for Subregional Transport Project Preparatory Facility will support feasibility studies and detailed design of transport projects, including four-laning of 600 km road corridors, and dual gauge conversion of Dhaka-Chittagong-Coxs Bazar Railway corridor. The Roads and Highways Department and Bangladesh Railway will be the executing agencies for the project, which is due for completion in 2021.