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12 July, 2018 00:00 00 AM

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ADB to give $200m for Southwest Economic Corridor

BSS

Asian Development Bank (ADB) has decided to invest $200 million initially as part of its cooperation for the development of Southwest Economic Corridor, reports BSS.

This amount will be spent for fuel transportation and trade facilitation purposes.

The decision was taken at a meeting between executive director of Bangladesh Investment Development Authority (BIDA) Kazi Aminul Islam and representatives of ADB, said a handout yesterday.

According to BIDA, it has planned to develop Payra Port-Benapole-Dhaka and Dhaka-Sylhet Corridors which will connect Bangladesh, India, Myanmar and China. Along with it, some short, medium and long term projects will be taken.

ADB will individually and jointly implement national and regional projects which are the part of the corridor project.

These projects will help develop planned industrialisation, infrastructure, connectivity and other facilities, it said.

“These facilities will help Bangladesh connect with global value chain,” said the handout.

Dongxiang Li, ADB’s lead regional cooperation specialist of Regional Cooperation and Operations Coordination Division (SARC) and Soon Chan Hong, economist, Bangladesh Resident Mission attended the meeting.

 

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Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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