The Asian Development Bank (ADB) will provide US$150 million in loan to finance infrastructure like roads and drains and build capacity in two densely-populated and fast-growing city regions-Dhaka and Khulna.
An agreement to this effect was signed between the ADB and the government on Tuesday at the Economic Relations Division (ERD) in the city, said an ADB press release.
ERD Secretary Monowar Ahmed and ADB Country Director Manmohan Parkash signed the agreement on behalf of their respective sides.
"The project will bolster growth, enhance living standards, and improve mobility, flood resilience and solid waste management in Dhaka and Khulna city regions," the release said, quoting the ADB Country Director as saying.
The ADB Country Director said: "By improving institutional capacity and community awareness, the project will strengthen municipal governance, institutional coordination, and sustainable service delivery."
The financing would also support preparation and implementation of comprehensive frameworks for integration of urban development with the South-West Economic Corridor (SWEC) development, and thereby contribute to establishing the SWEC as a major economic corridor under South Asia Subregional Economic Cooperation, Mr Parkash added.
The project aims to support rehabilitation of 300 kilometres (km) of urban roads in the Dhaka city region and 30 km of drains around Dhaka and 120 km around Khulna, said the ADB press release.
It will also fund preparation of an integrated solid waste management plan including construction of a composting plant for Khulna, it mentioned.
To strengthen capacity, the project will help identify priority investments, prepare or update various plans, and provide training in integrated urban planning, sustainable service delivery, and operation and maintenance of urban infrastructure.
To reduce startup delays for future projects, support for preparation of detailed engineering designs for investments involving the latest technologies and smart applications will be provided, according to the ADB.
They include integrated real-time data platforms and sensors, advanced building materials, and geotechnical engineering, it said.
The project will also conduct community awareness campaigns covering at least 200,000 people, including at least 100,000 women on reducing, reusing, and recycling solid waste, according to the ADB release.
A "city region" is an agglomeration of a large city with its surrounding municipalities (secondary towns) and adjacent peri-urban areas in upazilas or subdistricts, it added.
ADB's finance comes in the form of a regular loan of $75 million and a concessional loan for the same amount. The government of Bangladesh will provide financing to the tune of $73 million for the $223 million project, which is due to be completed by the end of June 2024.
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