KFAED signs $48m loan deal for Lebukhali bridge today

The Kuwait Fund for Arab Economic Development (KFAED) will provide Kuwaiti Diner of 14 million or approximately US$ 48 million to Bangladesh for the construction of Lebukhali bridge on Barisal-Patuakhali road, reports UNB. A loan agreement to this effect between Bangladesh and the KFAED will be signed today (Monday) at the Economic Relations Division (ERD). ERD Joint Secretary ATM Mustafa Kamal and KFAED legal adviser Nawaf Almahamel is expected to sign the deal, said an ERD official. The official said the proposed bridge over the Paira river at Lebukhali on Barisal-Patuakhali road would establish direct road link between the capital and the southern region of the country, which will ensure hassle-free movement of tourists to one of the most important tourist spots in Kuakata. Roads and Highways Department under the Ministry of Communications will implement the project. The estimated cost of the project is $ 60.87 million of which $ 57.97 million will come in project aid while the rest of the amount of $ 2.90 million from the government exchequre. The proposed four-lane bridge will be of 1470 metres in length. A KFAED mission visited the proposed project area during the third week of January 2011 when they came to Bangladesh to sign the agreement for the Shikalbaha project. As per their suggestion, a feasibility study report was prepared by the Roads and Highways Department and sent to KFAED on July 13, 2011. Following prompt response from the KFAED, the complete design of the project was prepared and sent to KFAED on September 28, 2011.