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$1.78 Billion ADB Facility to Improve Transport, Regional Trade in Bangladesh.

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ENPNewswire-August 30, 2021--$1.78 Billion ADB Facility to Improve Transport, Regional Trade in Bangladesh

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Release date- 27082021 - Transport and trade facilitation are among the priorities of the members of the South Asia Subregional Economic Cooperation. Photo courtesy of Roads and Highways Department, Bangladesh.

$1.78 Billion ADB Facility to Improve Transport, Regional Trade in Bangladesh

The Asian Development Bank (ADB) today approved a $1.78 billion multitranche financing facility (MFF) to improve mobility, road safety, and regional trade along the Dhaka-Sylhet trade corridor in Bangladesh.

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 from there to Bhutan and Myanmar. The corridor is also the centerpiece of the Bangladesh government's planned Northeast Bangladesh Economic Corridor, which aims to promote key industries in the area, such as energy generation and production of construction materials, and to better integrate them with the rest of the economy in the country.

'Bangladesh's export-driven economic growth has shown its unique potential and opportunity of becoming a regional transport and trade hub. To sustain this growth, the country's transport infrastructure needs to be improved,' said ADB Transport Specialist for South Asia Satomi Sakaguchi. 'The project road is the main part of Road Corridor No. 5 under the South Asia Subregional Economic Cooperation (SASEC) program. Its improvement will reduce logistics costs, increase competitiveness, and help expand regional trade with neighboring South Asian countries, as well as providing safe accessibility to the community members. By doing so, the investment project will contribute to the government's goal of achieving inclusive growth and sustainable development.'

The SASEC Dhaka-Sylhet Corridor Road Investment...

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