The Financial Express

KFAED to provide $51m loan for urban infrastructure development

Published: March 25, 2018 19:40:18 | Updated: March 27, 2018 15:02:58

$51m Kuwait fund for urban development

The Kuwait Fund for Arab Economic Development (KFAED) will provide US$ 51 million loan to Bangladesh for urban infrastructure development in 51 municipalities in the northern region.

The loan agreement for the "Urban Infrastructure Improvement Project" will be signed on March 27 (Tuesday) at 4:30pm at the NEC-2 Conference Room in city's Sher-e-Bangla Nagar area, said an Economic Relations Division (ERD) official.

The official said ERD Secretary Kazi Shofiqul Azam and Deputy Director General of KFAED Hamad Al-Omar will sign the agreement on behalf of their respective sides, reports BSS.

The project operations include construction of urban roads in 51 small and medium suburbs in Rajshahi and Rangpur divisions under the Local Government Division (LGD), added the ERD official.

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