October 15, 2015

EIB finances Bangladeshi rail upgrade

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THE government of Bangladesh has signed a €135m loan agreement with the European Investment Bank (EIB) to finance track-doubling and upgrading of the 72km Laksam - Akhaura line in central Bangladesh.

The project is part of Bangladesh Railways' (BR) broader programme to modernise the 321km Dhaka - Chittagong line, which is due to be completed by 2022.

The Asian Development Bank is providing a €332m loan for the project, while the government of Bangladesh will contribute €88m.

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