Bangladesh highway development project for trade corridor

Funding worth US$1.2 billion will help pay for the stage two portion of the project to upgrade the Northwest Trade Corridor project in Bangladesh. The highway will improve transport connections to and from Dhaka, with stage two being for the 190km stretch between Elenga and Rangpur. This funding is being provided by the Philippines-based Asian Development Bank (ADB), although further financing from the Bangladesh Government will pay for the remaining $472.6 million required for this highway section.
October 27, 2017 Read time: 1 min

Funding worth US$1.2 billion will help pay for the stage two portion of the project to upgrade the Northwest Trade Corridor project in Bangladesh. The highway will improve transport connections to and from Dhaka, with stage two being for the 190km stretch between Elenga and Rangpur. This funding is being provided by the Philippines-based 943 Asian Development Bank (ADB), although further financing from the Bangladesh Government will pay for the remaining $472.6 million required for this highway section. The ADB’s funding package is being delivered in multiple tranches including a concessional loan, a regular loan and a technical assistance grant.

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Road in the area around Mindanao in the Philippines will benefit from the provision of a loan worth US$380 million. This funding package is being supplied by the Asian Development Bank (ADB). The loan will be used for the Improving Growth Corridors in Mindanao Road Sector project. This is intended to improve and upgrade up to 280km of roads in the area. A further $123 million is being provided by the Philippines Government for the work, which will cost $503 million in all.
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