BIMSTEC Foreign Ministers Approve $50 Billion Worth of Connectivity Projects
30 August 2018
Foreign Ministers of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) member countries approved in principle around 167 projects to improve connectivity in the region. The projects, detailed in a study by the Asian Development Bank (ADB), are worth an estimated $50 billion.
BIMSTEC is drafting the BIMSTEC Transport Connectivity Master Plan, with ADB support. In preparation for the Master Plan, ADB reviewed transportation and cross-border facilitation, multimodal transport and logistics, infrastructure development, aviation, maritime transport, human resources development, communication linkages and networking in the region.