A financing loan agreement for "Construction of Five Climate Resilient Bridges in Mymensingh Division, Bangladesh" amounting to US$241.30 million was signed today during the Islamic Development Bank (IsDB) Group annual meeting held at Algiers, Algeria. The agreement was signed between the Government of Bangladesh (GoB) and the Islamic Development
Bank (IsDB).
Md Shahriar Kader Siddiky, secretary of Economic Relations Division, Ministry of Finance and Dr. Rami Ahmad, vice-president of IsDB, signed the loan agreement on behalf of their respective sides.
During the signing, Alternate Governor of Bangladesh to IsDB Mohammad Hasan Arif, Charge de Affairs of Bangladesh Embassy in Algiers Rashed Ahmed and Dr. Muhammad Sulaiman Al Jasser, chairman of IsDB, were present, said an ERD press release here.
The above-mentioned project will be implemented by the Roads and Highways Department under the Road Transport and Highways Division.
The project will ensure the socioeconomic development of marginalized communities by improving communication on the Sunamganj-Jamalpur border road and Shyamganj-Durgapur border road in remote areas of Mymensingh Division through the construction of five climate-resilient bridges.
The implementation of the project will enable people living in the relevant areas to cope with climate change impacts, improve transportation facilities, roadsafety, expand education, create economic opportunities, and reduce poverty and social inequality.
The release said the IsDB is one of the trusted multilateral development
partners of Bangladesh and has been providing continuous support for the
socioeconomic development of Bangladesh since its inception, in the forms of
grants, project loans, trade financing, private sector financing, export
credit guarantees etc.
