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Friday, 14 June, 2024

ADB to give Bangladesh $1 billion loan for five projects

The loans will be used for energy efficiency, vaccine production, clean water, computer science education and Dhaka-Northwest road corridor
Diplomatic Correspondent,
  28 Nov 2023, 20:17

The Asian Development Bank (ADB) today signed multiple agreements with Bangladesh to provide the country with $1.026 billion in loans for five different projects.

The projects are taken for energy efficiency, vaccine production, clean water and sanitation in Chattogram Hill Tracts, improving computer and software engineering education in three universities and upgrade Dhaka-Northwest international road corridor.

Of the amount, $336.5 million loan will be given to help Bangladesh establish domestic vaccine, therapeutics and diagnostics manufacturing capacity and strengthen the national regulator to ensure vaccine supply security in the country under the Vaccines, Therapeutics, and Diagnostics Manufacturing and Regulatory Strengthening Project.

Another $300 million will come from the Manila-based global lender for the upgradation of the Dhaka-Northwest international trade corridor in Bangladesh.

The assistance forms the third tranche of $1.2 billion multitranche ADB loans for the Second South Asia Subregional Economic Cooperation Dhaka-Northwest Corridor Road Project.

The Smart Metering Energy Efficiency Improvement Project taken as part of the government's efforts to reduce losses by installing 650,000 smart prepaid gas meters for residential customers, primarily in South Dhaka and Narayanganj will get $200 million ADB loan.

A $100 million loan will be handed over to the Improving Computer and Software Engineering Tertiary Education Project to improve computer science, software engineering, and information technology programmes in three universities of Bangladesh.

The universities are Dhaka University, Bangladesh University of Engineering and Technology and Jashore University of Science and Technology.

The ADB has set aside $90 million loan for the Chattogram Hill Tracts Inclusive and Resilient Urban Water Supply and Sanitation Project to develop infrastructure and systems to provide clean drinking water and sanitation services in Bandarban, Lama and Rangamati.

The project will develop water treatment plants with a capacity of 44 million litres a day in Bandarban, Lama and Rangamati towns as well as 24 kilometres of transmission line and 340 kilometres of new water distribution network to connect the households.

In Bandarban and Lama, the project will also modernise sanitation and solid waste management systems.

Md Shahriar Kader Siddiky, secretary of the Economic Relations Division (ERD), and Edimon Ginting, ADB's country director for Bangladesh, signed five separate agreements for the projects, at the ERD in Dhaka today.



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