The Asian Development Bank (ADB) and the Bangladeshi government have signed 200 million U.S. dollars' loan agreements to strengthen urban infrastructure, service delivery and management in Bangladesh's municipalities.
Kazi Shofiqul Azam, secretary of Bangladesh's Economic Relations Division (ERD), and Kazuhiko Higuchi, country director of Bangladesh Resident Mission of ADB, signed the agreements on behalf of their respective sides here in Dhaka on Tuesday.
"The ongoing project for improving urban infrastructure and services in 30 municipalities nationwide has been progressing well," said Country Director Kazuhiko Higuchi.
"The strong performance has enabled additional loans to further enhance the benefits of the project and bring them to a larger group of people around the country," he said.
The additional financing for the Third Urban Governance and Infrastructure Improvement (Sector) Project will increase the total ADB loans for the project to 325 million U.S. dollars.
According to the ADB, the project, first approved in 2014, builds on two previous projects - the first performance-based urban project completed in 2007 with a 65 million U.S. dollars loan and the second project completed in 2016 with a 87 million U.S. dollars loan that broadened the support to 51 municipalities.
Kazi Shofiqul Azam, secretary of Bangladesh's Economic Relations Division (ERD), and Kazuhiko Higuchi, country director of Bangladesh Resident Mission of ADB, signed the agreements on behalf of their respective sides here in Dhaka on Tuesday.
"The ongoing project for improving urban infrastructure and services in 30 municipalities nationwide has been progressing well," said Country Director Kazuhiko Higuchi.
"The strong performance has enabled additional loans to further enhance the benefits of the project and bring them to a larger group of people around the country," he said.
The additional financing for the Third Urban Governance and Infrastructure Improvement (Sector) Project will increase the total ADB loans for the project to 325 million U.S. dollars.
According to the ADB, the project, first approved in 2014, builds on two previous projects - the first performance-based urban project completed in 2007 with a 65 million U.S. dollars loan and the second project completed in 2016 with a 87 million U.S. dollars loan that broadened the support to 51 municipalities.
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