$140m Padma Bridge loan bargain sealed with IDB

The supervision sealed a US$140 million loan bargain with a Islamic Development Bank (IDB) upon Tuesday to financial a Padma Multipurpose Bridge Project.

Finance Minister AMA Muhith as great as upon vacation IDB President Dr Ahmad Mohamed Ali sealed a agreement during a financial multiplication of a method of financial during about 10:00am.

They additionally sealed an a single some-more $14.84m bargain to practice a H2O supply as great as sanitation devise in cyclone-prone coastal areas.

The country’s longest 6.15 kilometre bridge, together with a 3.68km land-based proceed viaducts upon both sides of a river, will bond nineteen south-western districts with a capital.

The sum estimated price for a overpass devise is US$ 2.9 billion.

The supervision has already sealed a $1.12b credit agreement with a World Bank upon Apr twenty-eight as great as an a single some-more $415m loan stipulate with Japan International Cooperation Agency upon May 18. The supervision itself will yield Tk 4,257 crore.

The IDB was a initial classification in in in between a co-financiers (Abu Dhabi Fund, ADB, JICA as great as World Bank) to authorize a project’s financing.

Communications Minister Syed Abul Hossain, Prime Minister’s Economic Affairs Adviser Mashiur Rahman as great as Economic Relations Division (ERD) Secretary Musharraf Hossain Bhuiyan were, in in in between others, benefaction upon a occasion.

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