Bangladesh, ADB Sign Tranche 3 of the SASEC Dhaka-Northwest Corridor Road Project, Phase 2
28 November 2023
The Government of Bangladesh and the Asian Development Bank (ADB) signed an agreement for the South Asia Subregional Economic Cooperation (SASEC) Dhaka-Northwest Corridor Road Project, Phase 2,Tranche 3 on 28 November 2023 in Dhaka, Bangladesh. Four other agreements were signed on the occasion, including the (i) Vaccines, Therapeutics, and Diagnostics Manufacturing and Regulatory Strengthening Project; (ii) Smart Metering Energy Efficiency Improvement Project; (iii) Chattogram Hill Tracts Inclusive and Resilient Urban Water Supply and Sanitation Project, and (iv) Improving Computer and Software Engineering Tertiary Education Project. Mr. Md Shahriar Kader Siddiky, Secretary of the Economic Relations Division of the Government of Bangladesh, and Mr. Edimon Ginting, ADB Country Director for Bangladesh, signed the agreement on behalf of the Government of Bangladesh and ADB, respectively.
The SASEC Dhaka-Northwest Corridor Road Project, Phase 2 was approved in October 2017 as a multitranche loan worth $1.2 billion. Tranche 3 amounts to around $300 million and is set to be completed by June 2026. Tranche 1, was committed in November 2017 and closed in January 2023. Tranche 2 was committed in March 2020 and is ongoing.
The road project is being implemented to improve the road connectivity of the Dhaka-Northwest international trade corridor. Outputs to be delivered are as follows:
(i) Upgraded Elenga-Hatikamrul-Rangpur Road of the Dhaka-Northwest international trade corridor;
(ii) Enhanced institutional capacity in road operation and management of the Roads and Highways Department of the Ministry of Road Transport and Bridges of the Government of Bangladesh; and
(iii) Strengthened road safety and gender-responsive features, and financing of the cost overrun for the Joydeypur-Chandra-Tangail-Elenga Road of the Dhaka-Northwest international trade corridor under the SASEC Road Connectivity Project.
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