IDB president due Monday

Islamic Development Bank (IDB) president Dr Ahmad Mohamed Ali will arrive in the city Monday morning to witness the signing of an agreement with government under which IDB will provide US$ 140 million for the Padma Multipurpose Bridge Project, reports UNB. Dr Ahmad will meet Finance Minister AMA Muhith at his Secretariat office Tuesday morning. Later, both the Finance Minister and the IDB president will witness the signing of two loan agreements including the one for the Padma Bridge. IDB will provide US$ 140 million for the construction of the Padma Multipurpose Bridge with the approach roads and toll plaza. The government will sign another agreement with the IDB for US$ 14.84 million to finance the water supply and sanitation project in cyclone-prone coastal areas. After his arrival Monday, the IDB president will fly to Sidr affected Sharankhola upazila in Bagerhat district to lay the foundation stone of a school-cum cyclone shelter to be implemented under a grant of US$ 130 million that was made available to IDB by an anonymous philanthropist in January 2008 for the rehabilitation of the cyclone-affected people. He will also visit some successful agro-input programme beneficiaries. Of the US$ 130 million grant, US$ 110 million will be spent for constructing some 440 cyclone shelters-cum-primary schools in the cyclone-prone coastal districts. Another US$ 20 million will be spent for the rehabilitation of farmers and fishermen in the Sidr-damaged areas. Dr Ahmad will leave for Dubai Tuesday.