October 4, 2021 6:40 PM

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ADB signs agreement with Bangladesh for first tranche of USD 400 million loan for highway development

<span style="background-color: transparent; color: #000000;">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. <br />''<br />''It is the first tranche of the USD 1.78 billion financing facility approved by ADB  for the South Asia Subregional Economic Cooperation (SASEC) Dhaka-Sylhet Road investment project. <br />''<br />''It will be utilised for widening of about 210 kilometres of Dhaka-Sylhet road  from 2-lane to 4 lane highway among other activities. <br />''<br />''ADB Country Director Mohan Parkash said that the project will open up opportunities for the entire north-east region of Bangladesh and act as a strategic corridor for subregional, regional and international trade. <br />''<br />''He said that the project  which is a part of the Asian Highway network,  will connect upcoming economic zones in the Sylhet region.<br />''<br />''The Dhaka'Sylhet corridor, once completed, will support a new trade route that connects Chattogram port with India's northeastern states through the three land ports of Akhaura, Sheola, and Tamabil, and onwards to Bhutan and Myanmar. <br />''<br />''The project is the main part of Road Corridor No. 5 under the South Asia Subregional Economic Cooperation (SASEC) program. </span><br />

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