ADB approves 100 mln USD for Bangladesh's rural road network expansion project

Source: Xinhua | 2020-06-16

The Asian Development Bank (ADB) has approved a 100 million U.S. dollars loan to expand the coverage of an ongoing rural road network improvement project in Bangladesh, connecting the rural population to agricultural development zones.

This additional financing will scale up the current road network development under the Rural Connectivity Improvement Project from 1,700 km to 2,630 km of rural roads, said the Manila-based lender in a statement on Monday.

It will build on the 200 million U.S. dollars financial package approved in 2018 aimed at upgrading rural roads in 34 districts to all-weather standards with climate resilience and safety features.

The expanded project will benefit 40.2 million inhabitants.

"The increased support brings more rural communities closer and faster to economic development activities, which accelerates the delivery of produce and services from agricultural lands to markets," said ADB Senior Water Resources Specialist Olivier Drieu.

The total cost of the project, which is expected to be completed by 2024, is 449.23 million U.S. dollars, with the government of Bangladesh contributing 149.23 million U.S. dollars.