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ADB fund for swift rollout of rail, road projects
13 May 2011: The Asian Development Bank (ADB) plans to help Bangladesh rollout planned transport projects to accelerate growth and stimulate economic activity across South Asia and beyond.
The ADB board has already approved a technical assistance loan of $23 million (approx Rs 102.35 crore) for the Sub- regional Transport Project Preparatory Facility. The Roads and Highways Department and Bangladesh Railway will be the executing agencies for the project, which is due for completion in June 2013.
The fund will be used to hasten the passage of road and rail projects earmarked as priorities for the development of regional transport projects. The facility will address this and other obstacles to speedy implementation by supporting feasibility studies, design preparation, procurement, social and environmental safeguards, and capacity building for oversight agencies.
The facility will help prepare projects covering around 300 kilometers of road works up for tender in 2012 and up to 1,700 km by December 2013.
Source: Bangladeshinfo