ADB signs agreement with Bangladesh for first tranche of USD 400 million loan for highway development
Sakshi Education
The Asian Development Bank (ADB) and the government of Bangladesh signed the agreement for USD 400 million in loan for constructing the Dhaka-Sylhet highway to improve mobility, road safety and regional trade in the north east economic corridor in Bangladesh.
ADB signs agreement with Bangladesh for first tranche of USD 400 million loan for highway development
It is the first tranche of the USD 1.78 billion financing facility approved by ADB for the South Asia Sub-regional Economic Cooperation (SASEC) Dhaka-Sylhet Road investment project.It will be utilised for widening of about 210 kilometres of Dhaka-Sylhet road from 2-lane to 4 lane highway among other activities.
The Dhaka–Sylhet corridor, once completed, will support a new trade route that connects Chattogram port with India’s north-eastern states through the three land ports of Akhaura, Sheola, and Tamabil, and onwards to Bhutan and Myanmar. The project is the main part of Road Corridor No. 5 under the South Asia Sub-regional Economic Cooperation (SASEC) program.
