BANGLADESH and the Asian Development Bank (ADB) signed a loan agreement on June 25 for a €368m multi-tranche financing facility for the South Asia Subregional Economic Cooperation (SASEC) Chittagong - Cox’s Bazar Railway Project.
The project involves constructing a new 102km Dohazari - Cox’s Bazar section of the Chittagong - Cox’s Bazar corridor in southeastern Bangladesh. The government is also upgrading the 47km Chittagong - Dohazari section with its own funds.
The project will also strengthen Bangladesh’s railway sector project management and implementation capacity. By connecting the Cox’s Bazar district to Bangladesh’s rail network, the project will boost the national economy through further development of Cox’s Bazar into a major tourist destination and also facilitate access for the population and freight.
The Chittagong - Cox’s Bazar line is part of the Trans-Asia Railway network.
The loan has a principal repayment period of 20 years.
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