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ADB lends Bangladesh $160 mn to improve Dhaka transport
India,Business/Economy,Indo-Pak/Pakistan, Mon, 17 Dec 2012IANS
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Dhaka, Dec 17 (IANS) The Asian Development Bank (ADB) and the Bangladesh government Monday signed an agreement for $160 million in loans to develop the urban public transport system in the capital.
The assistance will help develop a 20-km bus rapid transit (BRT) route, connecting the Dhaka North City Corporation and Gazipur City Corporation areas, Xinhua cited the Manila-based lender as saying in a statement.
It will help construct sidewalks, mixed-traffic lanes, high-capacity drainage systems, a BRT depot and terminal facilities, and 155 access roads for non-motorized transport.
The project will install 1,000 energy-efficient streetlights along the corridor, improve 10 markets, 141 local roads, and two pedestrian-friendly roads.
The project will directly benefit more than one million people.
The total cost of the project will be around $255 million. L'Agence Francaise de Developpement (AFD) will co-finance the project with $45 million, the Global Environment Facility will provide $4.6 million, and the government of Bangladesh will be providing $45.4 million.
Saifuddin Ahmed, joint secretary of Bangladesh's Economic Relations Division, and M. Teresa Kho, country director of ADB's Bangladesh resident mission, signed the agreement on behalf of their respective sides.
ADB lends Bangladesh $160 mn to improve Dhaka transport
India,Business/Economy,Indo-Pak/Pakistan, Mon, 17 Dec 2012IANS
inShare
Dhaka, Dec 17 (IANS) The Asian Development Bank (ADB) and the Bangladesh government Monday signed an agreement for $160 million in loans to develop the urban public transport system in the capital.
The assistance will help develop a 20-km bus rapid transit (BRT) route, connecting the Dhaka North City Corporation and Gazipur City Corporation areas, Xinhua cited the Manila-based lender as saying in a statement.
It will help construct sidewalks, mixed-traffic lanes, high-capacity drainage systems, a BRT depot and terminal facilities, and 155 access roads for non-motorized transport.
The project will install 1,000 energy-efficient streetlights along the corridor, improve 10 markets, 141 local roads, and two pedestrian-friendly roads.
The project will directly benefit more than one million people.
The total cost of the project will be around $255 million. L'Agence Francaise de Developpement (AFD) will co-finance the project with $45 million, the Global Environment Facility will provide $4.6 million, and the government of Bangladesh will be providing $45.4 million.
Saifuddin Ahmed, joint secretary of Bangladesh's Economic Relations Division, and M. Teresa Kho, country director of ADB's Bangladesh resident mission, signed the agreement on behalf of their respective sides.
ADB lends Bangladesh $160 mn to improve Dhaka transport
