Loan installments paid for Padma Bridge, Metrorail

The government on Monday received third and fourth installments of the loan taken for construction of Padma Bridge and the first installment of the loan taken for Metrorail project, reports UNB.

As a part of the loan repayment of Padma Bridge, Bridges Division Secretary Manjur Hossain handed over a cheque of Tk 3.16 billion to the Senior Secretary of Finance Division around 10 am in presence of Prime Minister Sheikh Hasina, said a press release of Road Transport and Bridges Ministry.

Road Transport and Bridges Minister Obaidul Quader, cabinet members, secretary and principal secretary to the prime minister were also present at that time.

With this, the Bridges Division paid a total of Tk 63.29 billion to the government in installments.

Earlier on April 5, the Bridges Division began the repayment of the loan with Tk 3.17 billion from the revenue it earned as toll collection from the bridge.

The loan was taken from Bangladesh Bank at a low interest rate under an agreement signed between the Finance Division and the Bangladesh Bridge Authority.

In line with a revised agreement with the finance division on July 26, 2022, the Bangladesh Bridge Authority (BBA) will repay the loan in 35 years through 140 installments (four installments each year). The repayment will continue up to the fiscal year 2056-57.

The authority collected tolls worth Tk 7.79 billion from the bridge till June 18, 2023.Meanwhile, the repayment of the loan taken for construction of MRT Line-6 started with some Tk 553 million paid to the government in the first installment on Monday.

Prime Minister Sheikh Hasina received a cheque of Tk 55,29,76,060 as the first installment of the loan at the outset of the Cabinet meeting on Monday.

Road Transport and Bridges Minister Obaidul Quader handed over the cheque to her at the outset of the Cabinet meeting chaired by the Prime Minister at her office.