$400m ADB loan for Ctg-Cox's Bazar railways: Deal signed

The Asian Development Bank (ADB) will provide the government with US$400 million as credit to build a dual-gauge railway connecting Chattogram and Cox's Bazar to promote trade, investment and tourism in Bangladesh.
To this effect on Sunday Secretary of Economic Relations Division Sharifa Khan and ADB Deputy Country Director for Bangladesh signed an agreement on behalf of Bangladesh government and ADB on Sunday, said an ADB press release,
The assistance forms the third part of $1.5 billion ADB loans for the SASEC Chattogram-Cox's Bazar ailway Project, it said, adding that the loan would help complete the construction of the 102 kilometers of new railway line between Chattogram and Cox Bazar.
"ADB is assisting the government to shift from road to rail, which is a climate-friendly, safe, affordable, and efficient mode of transport", Mr. Jiangbo Ning was quoted as saying.
"The project is a priority investment and will open up the unserved areas of Cox's Bazar region by promoting investment, trade and tourism. The project also integrates features that are friendly to the elderly, women, children, and people with disabilities," said the ADB deputy country head.
The new rail link, which is expected to open in 2023, aims to transport 2.9 million passengers annually between Chattogram and Coxs Bazar by 2024.
The construction of this railway section is one of several ADB railway projects to help Bangladesh meet its targets under its Eighth Five-Year Plan and Railway Master Plan.
Chattogram-Cox's Bazar Railway is part of the Trans-Asia Railway network, an initiative led by United Nations, aiming to provide seamless rail links between Asia and Europe to better connect people and markets, it mentioned.

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