ADB signs USD200m loan deal with Bangladesh

The Asian Development Bank (ADB) and Bangladesh government today signed USD200 milion loan agreements to strengthen the country’s urban infrastructure.

The secretary of Economic Relations Division (ERD), Kazi Shofiqul Azam, and Country Director of Bangladesh Resident Mission of ADB, Kazuhiko Higuchi, signed the agreements on behalf of Bangladesh and ADB respectively, said a ADB press release today.

This signing ceremony took place at ERD in Dhaka’s Sher-e-Bangla Nagar.

The additional financing will increase the total ADB loans for the Third Urban Governance and Infrastructure Improvement (Sector) Project to USD325 million. The project was first approved in 2014 and it is due for completion in 20121.