Add us to your taskbar by dragging this icon RGI logo to the bottom of your screen.

Close

Bangladesh upgrade loan

08 Oct 2007

THE GOVERNMENT of Bangladesh expected to sign an accord with the Japan Bank for International Co-operation before the end of September, releasing a US$112m soft loan to fund upgrading work on the national rail network.

The funding will support a US$924m reform package to transform Bangladesh Railway into a profitable business. The Asian Development Bank has agreed to provide US$430m, and US$250m is coming from the World Bank. Agreements were signed earlier this year with these two agencies releasing US$130m and US$40m respectively for the first phase of the programme.

BR has identified four specific projects to be funded from the JBIC loan. These are double-tracking of the Laksham – Chinki Astana section of the Dhaka – Chittagong main line, the purchase of 10 locomotives, rehabilitation and expansion of the workshops at Pahartoli and remodelling of Chittagong station.