WB to finance improved waterway connectivity in Bangladesh

The Bangladesh Regional Waterway Transport Project-1 will help reduce travel time and cost for cargo and passenger transport, and boost national and regional trade, said the Washington-based lender.

Dhaka, Dec 21 The Bangladesh government on Wednesday signed a $360 million financing agreement with the World Bank to improve the navigability of 900 kms of inland waterways and connecting routes.

The accord will enable year-round safe transport for passengers and cargo along the country's busiest waterways, Xinhua news agency reported.

Mohammad Mejbahuddin, senior secretary of Bangladesh's Economic Relations Division, and Qimiao Fan, World Bank country director for Bangladesh, Bhutan and Nepal, signed the agreement on behalf of their respective sides.

The Bangladesh Regional Waterway Transport Project-1 will help reduce travel time and cost for cargo and passenger transport, and boost national and regional trade, said the Washington-based lender.

IANS