ADB Earmarks $4.1 Billion for Bangladesh, Including $300 Million for SASEC Road Connectivity
25 June 2016
The Asian Development Bank (ADB) has earmarked $4.10 billion for Bangladesh for the 2016-2019 period, subject to project readiness. This includes $50 million for the proposed SASEC Road Connectivity Project-II and $200 million for the Chittagong-Cox's Bazar railway project. ADB is also allotting $300 million for power generation and $194 million for rural infrastructure maintenance.
Of the amount, $680 million is available for 2016, $1.088 billion for 2017, $1.158 billion for 2018, and $1.178 billion for 2018.
During the period, priority for funding will be given to energy, transport, education, water and urban services, agriculture, natural resources, and rural development and access to finance.
In terms of energy and power, ADB will continue to support energy sector reforms, construction of power transmission links, efficiency improvement of thermal plants, support for renewable energy projects, and promotion of regional power transmission interconnections.
In the transport sector, ADB will support the development of integrated multimodal transport corridors, transport hubs and growth centers, and institutional reforms and trade facilitation.
Each year, ADB provides on an average of $600 million to Bangladesh as loans and grants.
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. It is owned by 67 members countries, including 48 from Asia.