ADB Provides $ 96.1 Million To Bangladesh For Rural Infrastructure
Siddique Islam - All Headline News Foreign Correspondent Dhaka, Bangladesh (AHN) - The Asian Development Bank (ADB) will provide $ 96.1 million to Bangladesh to help expand economic opportunities for the rural poor by way of improving rural infrastructure and local governance. An agreement to this effect was signed between the ADB and the Bangladesh government at a simple ceremony in Dhaka on Sunday. Ismail Zabihullah, Secretary, Economic Relations Division (ERD), Ministry of Finance of Bangladesh and Country Director of Bangladesh Resident Mission of ADB Hua Du signed the agreement on behalf of their respective sides. The project's total cost is estimated at $ 260.5 million, with government funds totaling $ 78.3 million. Co-financing for the balance of $ 86.1 million is being considered by the United Kingdom's Department for International Development and German Development Cooperation through Kreditanstalt fur Wideraufbau (KfW) and Deutsche Gesellschaft fur Technische Zusammenarbeit (GTZ). The project would upgrade a total of about 6,164 miles of tertiary roads that make up the rural road network, as well as 370 rural markets and the offices and facilities of 190 union councils, to help reduce poverty in 23 districts in northern and central Bangladesh. More than 6 million people are expected to be benefited from better access to markets and social services, resulting in an estimated 20 percent increase in a family's average f |
