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ADB to provide US$140.3m loan for 2 projects

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October 23, 2000 

Dhaka-- (UNB) - Asian Development Bank will provide US$140.3 million loan for two development projects in northwest region of the country under an accord in Manila, said an ADB press release in Dhaka yesterday.

Northwest Crop Diversification Project will cost US$66.2 million of which ADB will give US$46.3 million from its Special Funds resources.

The project will promote new crops and cropping techniques through training, extension and credit provided by a government/NGO partnership, upgrade market information services and market infrastructure, promote improved use of market facilities by the private sector and provide a pilot credit the for post-harvest agribusiness activities.

The second is the Road Maintenance and Improvement Project that will cost US$160.2 million of which ADB will give US$94 million from its ADF resources.

The project will improve transport efficiency on existing roads nationwide, by strengthening the governance of road maintenance, and by conducting priority periodic maintenance works, targeted in areas with a high incidence of poverty, improve transport efficiency on the strategic southeast Road corridor by upgrading road condition and increasing capacity, and increase private sector participating in the delivery of road infrastructure, by establishing the enabling policy and legal environment and by implementing a toll road demonstration project, said the press release.

Joint Secretary of ERD Shafiqul Islam led the Bangladesh side at the negotiation while senior economist and ADB's chief negotiator Suganya Hutaserani was on the other side.