ADB to fund 1.5 bln USD for Bangladesh-Myanmar railway network (Photo:Internet)
The Asian Development Bank (ADB) will fund 1.5 billion USD to buld a rail line that will connect Cox's Bazaar, Bangladesh's southeastern beach resort, to neighbouring Myanmar as part of a larger Trans-Asian Railway network, reported the Indian Business Standard newspaper.
On a report released on February 19, Head of Bangladesh Economic Relations Division (ERD) Saifuddin Ahmed said that the ADB has been prioritising Bangladesh 's policy for development through regional connectivity.
The project under the Trans-Asian Railway corridor will set up rail links with Myanmar . The ADB wants to fund it because of its tremendous prospect, he said, adding that the bank has agreed to give 1.5 billion USD in loan at two percent interest.
Some 100 km of rail lines will connect Bangladesh with Myanmar through the Ghumdhum border. Bangladesh has a 300 km-border with Myanmar and the country expects to connect by road and rail with Kunming in China through Myanmar .
Bangladeshi Prime Minister Sheikh Hasina in 2011 opened construction work on the rail line but it has been on hold until now due to lack of funds.
VNA
