The Asian Development Bank (ADB) will provide $505 million loan for the development of Bangladesh Railway.
The government and the ADB signed a deal in this regard at a programme at ERD, Sher-e-Bangla Nagar on Sunday, reports BSS.
Mohammad Mejbahuddin, senior secretary, Economic Relations Division (ERD), and Kazuhiko Higuchi, country director, Bangladesh Resident Mission of ADB, signed the agreement on behalf of Bangladesh and ADB respectively.
"The assistance will help railways better serve needs of people and movement of goods, and help improve domestic and sub-regional trade," said Higuchi.
He said this project would also help improve the overall railway transport system in Bangladesh, and aims to reduce transport costs and improve logistics of strategic corridors, such as Dhaka-Chittagong link, for sub-regional trade.
The South Asia Subregional Economic Cooperation (SASEC) Railway Connectivity: Akhaura-Laksam Double Track Project will help upgrade the 72-kilometer Akhaura-Laksam section of the Dhaka-Chittagong railway corridor to a double track dual-gauge railway line, along with modern signaling equipment.
The existing track will be upgraded in accordance with the requirements of the Trans Asia Railways network.
Eleven railway stations will be reconstructed with special facilities for the elderly, women, children, and disabled.
