ADB confirms $60m loan for rural roads, markets
Tuesday, 12 April 2011
FE Report
The Asian Development Bank (ADB) has confirmed US$60 million loan for Bangladesh to upgrade nearly 800 kilometres of rural roads and some markets in 21 impoverished northwest and southwest districts of the country. Secretary of the Economic Relations Division (ERD) M Musharraf Hossain Bhuiyan and Bangladesh Country Director of ADB Thevakumar Kandiah signed the loan deal in Dhaka Monday. ADB said the financial assistance will support the government's Sustainable Rural Infrastructure Improvement Project, which will be implemented in the country's 21 districts. The KfW, a German government-owned development bank, will also provide euro 13 million grant for the proejct to develop the rural infrastructure. The ADB said Bangladesh's much of the countryside still remains underdeveloped with just 37 per cent of the population having access to all-weather roads, compared to 60 per cent in India and 61 per cent in Pakistan. The ADB's fund will help upgrade 800 kilometers of roads to all-weather standard, incorporating climate-proofing features which include the building of cross-drainage structures, roadside trees, horticulture, and pasture development.
The Asian Development Bank (ADB) has confirmed US$60 million loan for Bangladesh to upgrade nearly 800 kilometres of rural roads and some markets in 21 impoverished northwest and southwest districts of the country. Secretary of the Economic Relations Division (ERD) M Musharraf Hossain Bhuiyan and Bangladesh Country Director of ADB Thevakumar Kandiah signed the loan deal in Dhaka Monday. ADB said the financial assistance will support the government's Sustainable Rural Infrastructure Improvement Project, which will be implemented in the country's 21 districts. The KfW, a German government-owned development bank, will also provide euro 13 million grant for the proejct to develop the rural infrastructure. The ADB said Bangladesh's much of the countryside still remains underdeveloped with just 37 per cent of the population having access to all-weather roads, compared to 60 per cent in India and 61 per cent in Pakistan. The ADB's fund will help upgrade 800 kilometers of roads to all-weather standard, incorporating climate-proofing features which include the building of cross-drainage structures, roadside trees, horticulture, and pasture development.