Govt signs deals with OFID for infrastructure dev

The government signed Wednesday two loan agreements with the OPEC Fund for International Development (OFID) for US$60 million aiming to implement two projects, titled 'Construction of Paira Bridge (Lebukhali Bridge) on Barisal-Patuakhali Road' and the 'South Asia Sub-Regional Economic Cooperation (SASEC) Road Connectivity Project'. Economic Relations Division (ERD) secretary Kazi Shofiqul Azam and OFID director general Suleiman J Al Herbish signed the agreements on behalf of their respective sides at a city hotel. Finance Minister AMA Muhith was present at the signing ceremony. The money coming from the OFID will be channelled into a $30 million loan as additional funding for the construction of Lebukhali Bridge over the Paira River and $30 million to be used to meet an extra cost of SASEC Road Connectivity Project. Roads and Highway Department (RHD) under the Ministry of Road Transport and Bridge is implementing the 'Construction of Paira Bridge (Lebukhali Bridge) on Barisal-Patuakhali Road' project. The purpose of the project is to establish an uninterrupted direct road link between Dhaka and the country's southern region and to ensure a smooth movement for tourists to one of the most important tourist centres- Kuakata of Patuakhali - through the construction of the Paira Bridge (Lebukhali Bridge) over the River Paira on the Barisal-Patuakhali Highway.

— BSS