DhakaTribune
Sunday December 17, 2017 02:11 PM

$300m ADB loan for upgrading Dhaka-Northwest international trade corridor

$300m ADB loan for upgrading Dhaka-Northwest international trade corridor
Kazi Shofiqul Azam, secretary of Economic Relations Division, and Manmohan Parkash, country director of ADB, signing loan agreements at a ceremony in Dhaka on November 22, 2017PID

ERD secretary and ADB country director signed the loan agreements on behalf of the respective sides.

The Asian Development Bank (ADB) and the government of Bangladesh have signed agreements for a loan of $300m to help upgrade the Dhaka-Northwest international trade corridor.

Kazi Shofiqul Azam, secretary of Economic Relations Division (ERD), and Manmohan Parkash, country director of ADB, signed the loan agreements on behalf of Bangladesh and ADB, respectively, at a ceremony in Dhaka.

This was the first tranche of a $1.2bn total credit line ADB had earlier promised for the Second South Asia Subregional Economic Cooperation (SASEC) Northwest Corridor Road Project.

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