Bangladesh receives 360 mln USD World Bank financing to improve waterway connectivity

The Bangladeshi government on Wednesday signed a 360 million financing agreement with the World Bank to improve the navigability of 900 km inland waterways and connecting routes.

The deal will enable year-round safe transport for passengers and cargo along the country's busiest waterways.

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 in a statement. Enditem