DHAKA, Jun 26 (NNN-BSS) – The Asian Development Bank (ADB), and the Bangladeshi government, yesterday signed a loan agreement for 400 million U.S. dollars, to build a dual-gauge railway, connecting the country’s seaport city Chattogram, some 242 km south-east of Bangladesh’s capital city of Dhaka.
Sharifa Khan, secretary of Bangladesh’s Economic Relations Division, and Jiangbo Ning, ADB deputy country director for Bangladesh, signed the agreement, on behalf of their respective sides in Dhaka.
The loan will help complete the construction of the 102 km of the new railway line, between Chattogram and Cox’s Bazar, one of the world’s longest unbroken sandy beaches, about 400 km south-east of Dhaka.
The assistance forms the third part of 1.5 billion dollars in ADB loans, for the SASEC (South Asia Subregional Economic Cooperation) Chattogram-Cox’s Bazar Railway Project.
“The ADB is assisting the government to shift from road to rail, which is a climate-friendly, safe, affordable, and efficient mode of transport,” said Ning.
“The project is a priority investment and will open up the unserved areas of Cox’s Bazar region, by promoting investment, trade and tourism,” the deputy country director said, adding that, the project also integrates features that are friendly to the elderly, women, children, and people with disabilities.
The new rail link, expected to open this year, aims to transport 2.9 million passengers annually between Chattogram and Cox’s Bazar by 2024.
The construction of this railway section is one of several ADB railway projects, to help Bangladesh meet its targets, under its Eighth Five-Year Plan and Railway Master Plan.
Chattogram-Cox’s Bazar Railway is part of the Trans-Asia Railway network, an initiative led by the United Nations, aiming to provide seamless rail links between Asia and Europe, to better connect people and markets.– NNN-BSS
