ADB to help develop regional transport projects

Bangladesh will receive a $30 million loan from the Asian Development Bank (ADB) to help develop transport corridors to stimulate trade in the region, a senior official said on Friday.

adb1Senior finance ministry official Mohammad Mejbahuddin and Kazuhiko Higuchi, Bangladesh country director for the Manila-based ADB, signed the agreement in Dhaka.

“The assistance will be used to undertake technical studies and to prepare designs for future investments in large infrastructure projects in railways and roads sectors,” Mejbahuddin told Reuters.

“The assistance will help make domestic transport projects with high impact on regional trade ready for investment,” said ADB’s Country Director Kazuhiko Higuchi.

The loan will support feasibility studies for transport projects including developing highway and railway links between the capital Dkaha and the southeastern centres of Chittagong and Cox’s Bazaar, near the border with Myanmar.

The financing is additional to an ADB technical assistance loan of $23 million for a “subregional transport project” approved in 2010.