ZCZC
BSS- 10
ADB-ASSISTANCE-TRANSPORT
ADB approves $42m to help improve transport connectivity
DHAKA, Feb 10, 2020 (BSS) – The Asian Development Bank (ADB) has approved
$42 million in project readiness financing (PRF) for a facility to help
improve transport connectivity and promote multimodal transport in
Bangladesh.
The PRF will support project preparation in areas including road and rail
connectivity of ports, land ports, and border crossing points; road and rail
connectivity of intermodal transshipment facilities, including inland
container depots and inland container terminals.
It will also support strengthening of corridors, including bypasses,
connected roads, and alternate routes; and sector-wide improvements,
including safety, traffic management, and maintenance, said an ADB press
release.
The total cost of the facility is $57.2 million, of which the government
will provide $15.2 million. The PRF is due for completion at the end of 2024.
“Bangladesh’s transport network is critical infrastructure supporting the
country’s economic activities and promoting international trade,” said ADB
Transport Specialist Kaoru Kasahara.
“ADB’s Transport Connectivity Improvement Preparatory Facility will help
meet rapidly growing transport demand by financing feasibility studies,
detailed design, and other preparatory works to support the government in
preparation of road and railway projects.” added the ADB official.
The release said transport demand is expanding nationwide because of
Bangladesh’s young and growing population and steady economic growth.
Insufficient transport infrastructure results in increased costs and
transport time, reduced competitiveness and efficiency of the economy, and
impeded economic growth.
The government has been substantially investing in all subsectors to
strengthen the country’s transport network. Improving transport connectivity
at intermodal transshipment facilities is vital to achieving an optimized
modal split, as targeted in the government’s Seventh Five-year Plan.
The country needs to boost connectivity between different transport modes,
strengthen arterial transport corridors, as well as construct bypass and
connecting roads.
BSS/PR/GM/ARS/1644 hrs