Wednesday, January 16, 2019 | ePaper

ADB to provide $200m to improve road connectivity

Singing ceremony today

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Staff Reporter :
The Asian Development Bank (ADB) will lend $200 million to Bangladesh for improving road connectivity.
Bangladesh will sign an agreement with ADB in this regard today (Sunday).
ERD Secretary Monowar Ahmed and ADB Country Director Manmohan Parkash will sign the agreement on behalf of their respective sides at a ceremony to be held at Bangabandhu International Conference Center in Dhaka.
The Manila-based multilateral bank will provide the fund under the "Road Connectivity Improvement Project," which mainly aimed at improving about 1,700km of rural roads in Bangladesh.   
Under the total financial package, ADB will offer a concessional loan of $100m and a regular loan of $100 million at London Interbank Offered Rate (LIBOR) rate, according to ERD officials.

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