$200m UAE aid likely for building Padma Bridge
FHM Humayan Kabir | Tuesday, 3 March 2009
The government is likely to receive nearly US$200 million from the United Arab Emirates (UAE) for construction of Padma Bridge, officials said Monday.
"The Abu Dhabi Fund for Development has agreed in principal to provide money to build the bridge," secretary of the Bangladesh Bridge Division CQK Mushtaq Ahmed told the FE.
The donor has recently assured the government of providing the fund, he said.
"The Abu Dhabi Fund for Development is yet to confirm the amount of assistance.
But we expect more than $200 million from the donor," said a senior economic relations division (ERD) official Monday.
He said: "The donor agency has sought feasibility study and environmental impact assessment reports, and development project proposal of the Padma Bridge. We will send those soon for consideration."
Earlier, the government has requested major donors seeking additional fund to build the country's largest bridge over the river Padma as its construction cost has escalated from the preliminary estimation.
Preliminary cost of the Bridge was set at $1.47 billion, which has now gone up to $1.8 billion due to price hike of construction materials in the global markets. The World Bank has recently re-estimated the cost.
The World Bank earlier assured of $300 million, ADB $350 million and Islamic Development Bank (IDB) $300 million funds. Besides, Japan government has also assured of giving funds for the Padma Bridge construction project.
The 5.558-kilometre Padma Bridge will be constructed at Mawa-Janjira point that will link the country's poverty-prone southwest zone with capital Dhaka by FY15.
"The Abu Dhabi Fund for Development has agreed in principal to provide money to build the bridge," secretary of the Bangladesh Bridge Division CQK Mushtaq Ahmed told the FE.
The donor has recently assured the government of providing the fund, he said.
"The Abu Dhabi Fund for Development is yet to confirm the amount of assistance.
But we expect more than $200 million from the donor," said a senior economic relations division (ERD) official Monday.
He said: "The donor agency has sought feasibility study and environmental impact assessment reports, and development project proposal of the Padma Bridge. We will send those soon for consideration."
Earlier, the government has requested major donors seeking additional fund to build the country's largest bridge over the river Padma as its construction cost has escalated from the preliminary estimation.
Preliminary cost of the Bridge was set at $1.47 billion, which has now gone up to $1.8 billion due to price hike of construction materials in the global markets. The World Bank has recently re-estimated the cost.
The World Bank earlier assured of $300 million, ADB $350 million and Islamic Development Bank (IDB) $300 million funds. Besides, Japan government has also assured of giving funds for the Padma Bridge construction project.
The 5.558-kilometre Padma Bridge will be constructed at Mawa-Janjira point that will link the country's poverty-prone southwest zone with capital Dhaka by FY15.