The Asian Development Bank (ADB) will provide $142 million as loan for improving Bangladesh’s railway connections and rural road networks.
The Manila-based lender and the Economic Relations Division (ERD) signed two separate loan agreements for two projects on Tuesday.
ERD Secretary Fatima Yeashmin and ADB Country Director in Bangladesh Manmohan Parkash remotely signed both the credit deals.
Under the loan, $100 million will be spent by the Local Government Engineering Department (LGED) to build and upgrade the roads in the rural areas of 34 districts in the country.
This loan is an additional financing as the Manila-based lender confirmed another $200 million credit in the first phase in 2018 to the government.
with the $42 million loan, the ADB will help Bangladesh Railway (BR) to promote multimodal transport and connectivity in Bangladesh.
The BR’s Transport Connectivity Improvement Preparatory Facility project will help with feasibility studies; detailed design; risk assessment for gender, labour, and other social issues; environmental impact assessments; climate risk and vulnerability assessments; environmental management plans; resettlement plans; indigenous people’s plans; and risk mitigation plans for ensuing projects.