International Desk: On Friday, the Asian Development Bank (ADB) approved a $1.78 billion multi-tranche financing facility (MFF) to improve mobility, road safety, and regional trade along the Dhaka-Sylhet trade corridor in Bangladesh.
According to the global lender, the investment project of the SASEC Dhaka-Sylhet Corridor Road will be delivered in four tranches.
The $400 million first tranche of the MFF will help finance the initial work of the major contracts for the widening of about 210 km of National Highway 2 along the Dhaka–Sylhet corridor from two to four lanes. It will include 60 km of footpath, 26 foot bridges, and 13 overpasses.
Satomi Sakaguchi, ADB Transport Specialist for South Asia, said that Bangladesh’s export-driven economic growth has shown its unique potential to become a regional transport and trade hub. The transport infrastructure in the country needs to be improved in order to sustain this growth.
He said, “The project is the main part of Road Corridor 5 under the South Asia Subregional Economic Cooperation (SASEC) programme. Its improvement will reduce logistics costs, increase competitiveness, and help expand regional trade with neighbouring South Asian countries, apart from providing safe accessibility to community members. ” UNB