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The government has signed two loan agreements with Korea Eximbank for the construction of a railway-cum road bridge across the Karnaphuli River at Chattogram's Kalurghat Point.
The loan agreements of the project amount to $724.73 million from the Economic Development Cooperation Fund (EDCF) and $90.18 million from the Economic Development Promotion Facility (EDPF), reports BSS.
Md Shahriar Kader Siddiky, secretary of Economic Relations Division (ERD) and YOON, Hee Sung, Chairman and CEO, of Korea Eximbank signed the two loan agreements on behalf of the government and Korea Eximbank respectively.
Finance Minister Abul Hassan Mahmood Ali, Railways Minister Md Zillul Hakim, State Minister for Finance Waseqa Ayesha Khan and Korean Ambassador to Bangladesh Park Young-sik were also present at the signing ceremony.
Bangladesh Railway under the Ministry of Railways will implement this project through EDCF-EDPF co-financing.
The objectives of this project are to minimise traffic congestion in the proposed Chattogram-Cox's Bazar Corridor and to ensure seamless railway transport, to build the part of Trans-Asian Railway connectivity, to improve the quality of life of residents and to facilitate inter-regional exchange, thereby promoting the sustainable economic and social development of Bangladesh.
