On the same day, a Memorandum of Understanding (MoU) was signed between Bangladesh and Korea on the Dhaka Mass Rapid Transit Development Project (Line-4) project.
DMTCL under Road Transport and Highways Division will implement this project through EDCF-EDPF co-financing.
In addition, a USD 61 million loan agreement for the replacement and modernization of signaling and interlocking systems of stations of the Ishurdi-Parbatipur section in the West Zone of the Bangladesh Railway Project will be implemented by Bangladesh Railways under the Ministry of Railways and will be used for the purchase of CNG single Another loan agreement for Decker AC Buses for BRTC project worth USD 77.44 million to be implemented by BRTC under Road Transport and Highways Division has also been signed on the same day.
The interest rate of these loans is 0.01 per cent and the repayment tenure is 40.5 years (including grace period of 15.5 years).
Economic Relations Division Secretary Sharifa Khan and Korea First Vice Minister of Economy and Finance Kisun Bang signed the Framework Arrangement and MoU on the Dhaka Mass Rapid Transit Development Project (Line-4) project on behalf of their respective governments.